General Insurance Article - Bright Grey pays out 90% of critical illness claims


 The protection specialist Bright Grey has announced that it paid 90% of critical illness claims in the first six months of the year, with only 4% of claims declined for non-disclosure.

 The average pay out was £77,000.

 The youngest claimant was 23 years old and a third of claimants were 40 years old or under. 61% of critical illness claims were for cancer, followed by heart attack 10% and stroke 9%.

 Roger Edwards, Proposition Director at Bright Grey said:

 "Critical illness can happen to anyone at any time as the age of our youngest claimant shows. But while a financial payout is essential to help people to continue to make ends meet, practical and emotional help is also required.

 "That's why Bright Grey's menu plan also includes its Helping Hand service available to plan owners and their immediate family. Many claimants consider the emotional support they received through the service meant as much to them as their financial payout."

 All customers are offered support by RED ARC nurses at the time of their claim and the value of that support is rated so highly that 9 out of 10 people who were contacted used the service.

Back to Index


Similar News to this Story

Ten steps insurers are taking to tackle motor cover costs
Insurers announce actions to bring down costs after premiums increased 25% in 2023
Third of drivers forced to pay monthly for car insurance
Research by comparison site Money Expert has revealed a third of drivers in the UK will be considering monthly payment instalments to afford their car
Lloyds provision for FCA investigation lower than expected
Q4 profit before tax £1.8bn vs £1.7bn consensus. Q4 Net interest margin 2.98%. Unwound £541mn of loan loss impairments. £450mn provision for impact of

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.