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Critical illness insurance claim - wish us luck!
Comments
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My crystal ball is cloudy and my fingers are well and truly crossed.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
PS. Pedro.....
L&G paid out on 2,149 policies
Aviva on 1,625
Zurich on 787
Friends Provident 625
AXA (as it was) 109
These are for the year ending 2009.
If information is there if you want to find it!!0 -
Scot Prov's 2010 figures;-Paid claims January - December 2010
Total amount paid £88,098,337
Total number of claims paid 1,038
Total % of claims paid (as a % of total claims) 90%
Average payout £84,873
Largest claim value £1,090,362
Average age of claimant 46
Average months in force before claim 90
Provided for information only. No inference is intended.Unpaid claims January - December 2010
Total number of unpaid claims 118
Total % of unpaid claims (as a % of total claims) 10%
Number of claims declined because the illness suffered did not meet our critical illness definition 84 (7%)
Number of claims which resulted in no payment due to the discovery of material non-disclosure at the time the plan was taken out. These plans were cancelled with the premiums refunded 34 (3%)I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Let's just say that our claim is for well over the average but NOTHING like the maximum, which is a shame as a million quid would certainly help my retirement planning!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »Let's just say that our claim is for well over the average but NOTHING like the maximum, which is a shame as a million quid would certainly help my retirement planning!
It sounds like you have done all the right things when planning for your future. Taking Critical Illness along with your life cover, you mention retirement planning.
I hope that the cancer is got rid of and you both live a long and happy life regardless of the outcome of your critical illness claim.
Let us know how it goes anyway.I work in finance
Anything posted on this forum is for discussion purposes only and should not be considered financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation0 -
I have recently been successful with my claim for Critical Illness but not for cancer. I took my claim to the Financial Ombudsman and eventually the claim was settled. It was not straightforward and I never expected the lengths Aviva would go to disprove me. They looked at every angle and even stuff was blatantly not relevant to the case. So whilst I really hope it is straightforward I would prepare yourself for a fight particularly if there is stuff that you have not disclosed or cant remember disclosing. This is what caught me out but the Financial Ombudsman really tackled them and they paid out in full. I cant recommend the Financial Ombudsman enough - the guy that that dealt with me was professional, compassionate, thorough and really kept us well informed. Good luckxI must not fear. Fear is the mind-killer.
Fear is the little-death that brings total obliteration.
I will face my fear. I will permit it to pass over and through me. When it has gone past I will turn the inner eye to see its path.
When the fear has gone there will be nothing. Only I will remain.0 -
PS. Pedro.....
L&G paid out on 2,149 policies
Aviva on 1,625
Zurich on 787
Friends Provident 625
AXA (as it was) 109
These are for the year ending 2009.
If information is there if you want to find it!!
the information is there ay weighty 1? so go on then, please enlighten me..............what is the likelihood of someone making a CI claim?. 10%,20%,30%.........Campaigning to recycle Insurance Policies into Toilet Paper :rotfl:
Z0 -
I never expected the lengths Aviva would go to disprove me.
We hope we don't have such a fight, but many do, and we're up for it.
Well done on sticking with it,I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
pedro123456 wrote: »the information is there ay weighty 1? so go on then, please enlighten me..............what is the likelihood of someone making a CI claim?. 10%,20%,30%.........
http://www.primelocation.com/guides/insurance/guide-to-critical-illness-cover/
According to this link around 1 in 4 or 1 in 5 will suffer from just 3 of the conditions covered (admittedly the ones most likely to receive a claim).
So, 20 in 100 will suffer one of those conditions. If all of those were insured 18 roughly would receive a payout.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The idea that insurance companies will go to any lengths to reject CI claims is a complete myth.
I'm a life & disability underwriter for one of the large insurance companies. A couple of years ago a customer applied for CI cover with us. Unfortunately I had to decline her application because she'd suffered from cancer a couple of years earlier. However I noticed that she already had some CI cover with us and that she hadn't tried to claim on it. I rang our claims dept and asked them to get in touch with her, so they rang her and asked her if she would like to submit a claim. She did and a few weeks later was paid just short of £40k.
If all insurance companies are horrid, money-grabbing swindlers wouldn't we have just kept quiet about it? Strictly speaking this customer was way past the time limit for claiming, as per the policy conditions, but that was waived as well.
You never see these stories on Watchdog do you?0
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