Life Insurance News: NU critical illness claim payouts on the increase
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Article Published: 02-Oct-2007
According to its latest Critical Insurance Claims Report, Norwich Union has settled 86 per cent of its critical illness claims in the first six months of 2007. This figure is a six per cent increase from the same period in 2005.
The increase is being attributed to Norwich Union’s efforts at educating their consumers with regard to full disclosure on applications thus reducing the number of cases rejected due to non-disclosure and they achieved this by contacting thousands of their existing policyholders requesting a review of their original applications.
Willie Mowatt, director of risk products for NU, says, “Non-disclosure is a huge concern throughout the insurance industry, which is why we are delighted to see more and more people helping to stamp out the problem."
Source: Insurance-4-life.co.uk
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