Critical Illness Cover

Transcription

1 Critical Illness Cover 2017 claims stats (including Children s Critical Illness Cover) For adviser use only.

2 Contents 3 Critical Illness Cover 2017 claims 4 Children s Critical Illness Cover 2017 claims 5 Claims Experience 6 Legal & General Nurse Support Services Critical Illness Cover 2017 claims In 2017 we paid 209 million in critical illness claims, an average of 64,925 per claim. We handle each claim with compassion and efficiency, so you can be reassured we ll help your clients through the difficult times. 7 Legal & General GP24 Service Critical Illness Claims 91.7% of claims paid out. 3,041 = 209 million Paid to our customers and their families with 64,925 being the average payout. is the average age of our claimants. Average age Cancer F 46 M 48 Top 5 conditions Claimed and paid Average payout 64,925 Heart Attack Stroke Multiple Sclerosis Total and Permanent Disability Cancer % Heart Attack % Stroke - 6.4% Multiple Sclerosis - 5.1% 5 Total and Permanent Disability - 3.6% CLAIMS REJECTED Definitions not met (5.8%) In order to offer competitively priced Critical Illness Cover at the point the policy is taken out, insurers set out clearly in their product literature which specific illnesses or surgeries are covered and the circumstances in which they do and do not result in a claim payment. Misrepresentation - 83 (2.5%) Incorrect or incomplete information may lead to a claim being rejected for misrepresentation. This amounts to just under a third of the small number of claims that we are unable to pay, whereby customers applying for critical illness insurance withhold information during the application process which would have affected our decision as to whether we could provide cover. 3

3 Children s Critical Illness Cover 2017 claims In 2017 we paid 2.5 million in Children s Critical Illness claims, an average of 25,000 per claim. CLAIMS EXPERIENCE Handled with care We re proud of our claims record. We ve been able to help our customers with financial security during difficult times over the years. This year we ve continued with an average claims customer ease score rating of 96% and an 88% net promoter score in We have over 70 Samaritans trained claims assessors and all our claims handlers are trained for sensitivity, with all completing Samaritans Conversations With Vulnerable People course. Children s Critical Illness Claims 127 = 2.5 million Paid to our customers and their families, with 25,000 being the average payout. 92.7% of claims paid out. Top 3 conditions Claimed and paid Cancer - 66% Stroke - 7.1% Benign Brain Tumour - 5.5% is the average age of our claimants. CLAIMS REJECTED Definitions not met - 10 (7.3%) In order to offer competitively priced Critical Illness Cover at the point the policy is taken out, insurers set out clearly in their product literature which specific illnesses or surgeries are covered and the circumstances in which they do and do not result in a claim payment. 4 5

4 Legal & General Nurse Support Services Legal & General GP24 Service Legal & General Critical Illness Cover does not only support with a financial payout we re here every step of the way, to help your client through even the most difficult of times. We have partnered with RedArc Assured Limited and their registered nurses, to include a suite of six Nurse Support Services. From the day they take out our Critical Illness Cover, your client will be able to call Legal & General Nurse Support Services directly to access assistance. Restrictions apply. Legal & General Nurse Support Services include the following: Serious illness, disability or bereavement support Second Medical Opinion Mental health support Help at Home Carer Support Eldercare This service is only available in the UK. Conditions apply. For an additional cost of just 3.25 per month, your client may want to consider our GP24 Service, provided by Healix Health Services and Medical Solutions UK Ltd. Lengthy waiting periods for appointments, GP consultations and access to treatment can be frustrating. This service reduces waiting times, giving your client access to a GP 24 hours a day, 365 days a year, from anywhere in the world. GP24 will also offer support and information to guide them through the maze of diagnostics, specialists and treatment options available if they decide to access private healthcare.* Legal & General GP24 Service includes the following: General practitioner services Private consultation concierge service These services cannot be purchased on our Critical Illness Cover plans with reviewable premiums or those purchased for Business Protection. *Private healthcare does not apply under the policy. For more information, please visit: These services cannot be purchased on our Critical Illness Cover plans with reviewable premiums or those purchased for Business Protection. For more information, please visit: 6 7

5 For more information about our Critical Illness Cover, please visit: Legal & General Assurance Society Limited. Registered in England and Wales No Registered Office: One Coleman Street London EC2R 5AA We are authorised and regulated by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. W /18