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Bupa Individual Protection reveals claims data
14 February 2006
Bupa Individual Protection has paid out an average benefit of nearly £79,000 in critical illness claims since its inception, it reported today.
The largest sum paid was £750,000 for a permanent disability claim. In keeping with the market, the majority of claims have been for Cancer and Myocardial Infarction. However, unlike many other insurers, Bupa Individual Protection has also paid claims for cardiomyopathy, chronic rheumatoid arthritis and insulin dependent diabetes.
The average duration of the policy being in force was 33 months and its declined claims due to non disclosure were 8.4 percent of the claims received while 13.1 percent of claims did not meet the definition as described in the member’s handbook.
Steve Casey, product manager, Bupa Individual Protection, said: “The claims experience, breakdown and average duration were in keeping with the maturity of our portfolio. Most of our portfolio has been underwritten in the last three years, bucking the downward trend in the protection markets sales.”
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