Drewberry™ provide pensions, investment and insurance advice for Money to the Masses readers throughout the UK.

 

Critical Illness Cover Claim Payout Rates by Insurer

This page should help to provide an indication of how good insurers are at paying Critical Illness Insurance claims. The claims statistics for Critical Illness Cover laid out below below cover the insurers we most commonly work the percentage of claims they’ve paid out over the last 3 years.

Critical Illness Cover is provide serious illness insurance, paying you a cash lump sum if you develop an insurer-specified critical illness.

Life and Critical Illness Insurance are often packaged together, but the below claims statistics cover standalone Critical Illness Insurance only.

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When Does Critical Illness Insurance Pay Out?

Critical Illness Insurance pays out a lump-sum to the policyholder should they suffer any of the illnesses listed in their policy, as long as the illness occurs during the term of the policy.

The average Critical Illness Insurance policy covers around 40 critical illnesses, but the number of conditions covered varies between providers from 35 to 170+. That’s why it’s valuable to get advice so you can ensure your policy has the broadest possible coverage.

The vast majority of claims are for cancers, heart attacks and strokes, although other commonly-covered serious illnesses include multiple sclerosis, Parkinson’s disease, kidney failure, motor neurone disease and permanent loss of vision/hearing.

ABI logo

Overall Protection Payout Rates Across All Insurers

Each year the Association of British Insurers (ABI) publishes average pay out rate statistics from across all insurers. The latest figures are from 2017 and show that 92.2% of all critical illness cover claims were paid, with over £1 billion getting paid out in total.

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Robert
Income Protection
 

Percentage of Critical Illness Claims paid out by Insurers

The table below shows what proportion of critical illness insurance claims were paid by each insurer (that published their payout rates).

Insurers
2015
2016
2017
Zurich
92%
90%
95%
Aegon
97%
95%
94%
Aviva
92.5%
92.3%
93.2%
AIG
91.4%
92.3%
93%
Legal & General
91.5%
92.6%
92%
Vitality Life
95%
93%
92%
Royal London
93%
92.2%
91.2%
Liverpool Victoria
91%
92%
88%
 

Important Disclaimer

The above Critical Insurance payout statistics shouldn’t be used to make an exact comparison of insurers but rather to get a general understanding of payout rates across insurers as a whole.

Victoria Slade, Independent Protection Expert at Drewberry

Insurers use slightly different criteria for categorising declined claims; for example, some insurers might treat a fraudulent claim as declined, whereas others could have a different way of classing them.

Give this, the above table isn’t a simple measure of whether which insurer is best for Critical Illness Insurance – one insurer might have better policy wording or could be more suited to you. That’s why it’s helpful to get advice from someone who knows the market and providers inside out.

Victoria Slade
Independent Protection Expert at Drewberry

 

Insurer Claims Statistics

 

When choosing our personal protection we want to know it is going to pay out when we need it to.

By choosing a product or specific insurer from the menu below you will be able to view the claims payout rates for all of the main UK insurers for income protection, life insurance and critical illness insurance.

Insurer
2015
Percentage of Successful Claims
2016
Percentage of Successful Claims
2017
Percentage of Successful Claims
Critical Illness Insurance
Zurich
92%
90%
95%
Aegon
97%
95%
94%
Aviva
92.5%
92.3%
93.2%
AIG
91.4%
92.3%
93%
Legal & General
91.5%
92.6%
92%
Vitality Life
-
-
92%
Royal London
93%
92.2%
91.2%
Liverpool Victoria
91%
90%
88%
Friends Life
93%
-
-
Income Protection
Aegon
85%
85%
96%
Liverpool Victoria
92%
90%
96%
Vitality Life
-
94%
96%
Holloway Friendly
96.9%
98%
96%
Shepherds Friendly
97.6%
97%
96%
Legal & General
95%
94.4%
95%
Cirencester Friendly
94%
94%
94.7%
British Friendly
97.8%
97%
92.4%
Royal London
94%
95.6%
92.1%
Exeter
94%
94%
91%
Aviva
92.4%
92.6%
88.8%
Zurich
87%
85%
87%
Friends Life
84%
-
-
Life Insurance
Zurich
98.5%
98%
99%
Vitality Life
99%
99%
99%
AIG
92.2%
95%
99%
Scottish Widows
98.9%
99.4%
98.99%
Aviva
98.9%
98.9%
98.9%
Legal & General
97.9%
98.6%
98%
Aegon
98%
98%
98%
Royal London
98%
96.8%
97.3%
Liverpool Victoria
97%
98%
95%
Friends Life
99%
-
-
Expert insurance advice on finding the best Critical Illness Insurance provider

Need Advice on Choosing the Best Critical Illness Insurance?

When you take out Critical Illness Insurance, it’s obviously hugely important for you to be able to compare insurers and be sure that the provider will pay out in the event of a genuine claim.

However, you’ve also got to consider how to find the best Critical Illness Insurance given your circumstances, such as your health and lifestyle. Some insurers also offer additional benefits when you take out life cover with them – these can often be very good.

Rob Harvey, Independent Protection Expert at Drewberry

If you’re thinking about a critical illness policy, researching the insurers is a must to find the insurer with the best definitions of some of the more common illnesses.

Some will cover more illnesses than others, while others will simply have a more robust definition of that condition, increasing your likelihood of a successful claim. We can do all this research for you – just pop one of our advisers a call on 01273646484.

Rob Harvey
Independent Protection Expert at Drewberry

Compare Top 10 UK
 Protection
Insurers
 
Takes approx. 60 seconds
Type of Policy
Level of Cover
Date of Birth
Loading your options...
Thank you for using our Quote Tool
If you need some help, just call us!
T: 02084327333
Our in-house Experts are here to provide FREE impartial advice!
Our Experts can answer all your questions
Our Experts can send you more appropriate options based on your personal circumstances

Very important if you are either Self-Employed or a Company Director.

Our online quote tool is good but our Experts are better

Oue Experts have access to far more insurers and can often find a better deal offline.

Saves you time, let our Experts do what they are best at

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