Summary
Feeling rejected? You could be if you spare the truth on you critical illness insurance application form.
Critical Illness insurance On the Critical List?
Author: Dot Piper
Critical illness insurance { online car insurance } cover can be an absolute
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The point of critical illness insurance is that it pays out a tax free lump sum if critical illness is diagnosed. There's a lengthy list of illnesses which will be listed on the { loans } policy and which qualify as "critical". The list commonly starts with cancer, heart attacks, strokes and major organ transplant but a great many other illnesses are normally covered. Over recent years the number of diseases covered by a typical policy has increased to more than 25.
There are some { bad credit loans } concerns regarding the number of claims which are rejected due to non-disclosure. This usually happens when the { life assurance } company { personal secured loans } consider that the policyholder has failed to tell them something about a previous medical condition which they consider important. Rejection rates average around 25% as shown in the table below:-
Published rejection rates for critical insurance cover.
Insurance Company |
Percentage of critical illness claims rejected |
Scottish Equitable Guardian |
10% |
Scottish Provident |
11% |
Scottish Widows |
18% |
Prudential |
20% |
Standard Life |
20% |
Skandia |
21% |
Bupa |
21.5% |
Legal & General |
22% |
Friends Provident |
25% |
Norwich Union |
26% |
Scottish Equitable Project |
28% |