OREANDA-NEWS. Aviva protection customers and their families received more than GBP 475 million through claims on life insurance, critical illness cover and individual income protection policies in 2012. This equates to more than GBP 1.3 million pounds a day, or GBP 902 per minute.

The figures include GBP 324 million (up GBP 4m from 2011) paid to the families of life insurance customers who have died or been diagnosed with a terminal illness, and over GBP 131 million (up GBP 17m from 2011) paid to customers with critical illness (CI) cover. Payments to income protection customers totalled almost GBP 15 million (up 1.3 million from 2011).

The data also reveals that during 2012 Aviva made payments for 10,880 life insurance claims (up 385 from 2011), 1,716 CI claims (up 148 from 2011) and 1,130 individual IP claims (compared to 1,227 in 2011).

Over the year the insurer paid 99.3% of life insurance claims, 93.5% income protection claims and 92.5% of critical illness claims. Of claims which were declined, 0.7% of life insurance claims, 0.4% of individual IP claims and 1.7% of critical illness claims were declined due to non-disclosure.

Key statistics for 2012 include:
The average length of claim for an income protection policy was 113 months (nine years and five months).
The most common causes for IP claims were psychiatric conditions (30%); orthopaedic conditions (21%); neurological conditions (18%); rheumatological conditions (10%); and cancer (8%).
The average age for IP claimants was 52 years for women and 55 years for men.
The average sum paid to critical illness customers was GBP 76,499 (up GBP 2,908 from 2011).
The average age of critical illness customers was 44 years for women and 46 years for men
Cancer remains the most common cause of critical illness claims at 66%, followed by heart attack (12%), stroke (7%), multiple sclerosis (5%) and benign brain tumour (3%).
Over the last five years the same top five conditions have accounted for more than 92% of Aviva’s critical illness claims paid overall.

Robert Morrison, chief underwriter for Aviva says: “Our latest figures are great news for all families who have protection or are thinking of taking out cover. Protection policies are the types of products no-one ever wants to claim against, but the financial comfort they offer at a difficult time cannot be underestimated.

“Almost 14,000 of our customers and their families benefited from payments last year, so people can be reassured that we are absolutely committed to paying claims wherever possible. This is borne out by our latest claims statistics. We will continue to work with our customers to ensure if they need to make a claim, their journey is as quick and straightforward as possible.”

Additional information:
All customers with an Aviva critical illness policy benefit from up to GBP 25,000 of children's critical illness cover for their children. In 2012 Aviva paid out 58 child critical illness claims.
During 2012 Aviva paid out GBP 475,375,978 to people claiming through life insurance, income protection and critical illness cover. This includes: 
Child critical illness claims: GBP 615,746
Terminal illness claims: GBP 50,416,796
Total Permanent Disablement (TPD) claims: GBP 4,973,971