News Article
Aviva Reveals Life Insurance Facts
Aviva, one of the largest insurance companies in Britain, has revealed that of the claims received for critical illness, the firm approved 91per cent of submissions. Revealing life insurance facts that could well sway customer decision on who to choose cover with, Aviva said that in 2009, 1,499 claims were paid totalling £118m.
The announcement will be of particular interest to those looking at taking out critical illness cover in the coming months. With life insurance levels currently a record lows, payout percentages are important to consider, with individuals urged not to purchase the cheapest deal they come across. And with Aviva's average payout per claim rising from 2008's £75,000 to £79,000 in 2009, customers can be sure that the reputable company will honour its products.
Speaking of the figures Aviva's director of protection, Richard Verdin, explained "Critical illness cover remains a crucially important solution for many. Collectively, we owe it to customers to ensure people do realise the potential need and value of life insurance before it's too late." And with nine in every ten claims being approved, customers were provided with important financial support at some of the most difficult times in their lives.
Vital to increase the transparency of the sector, the life insurance facts revealed may cause many consumers to increase their awareness for the need of critical illness cover. And with Aviva setting a high standard of claim payout, individuals are urged to peruse a number of companies before deciding who to purchase policies from.
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