Aegon; how much did they pay out in claims in 2016?


SMP Healthcare
aegon-how-much-did-they-pay-out-in-claims-in-2016

Aegon is an international provider of life insurance, pensions and asset management. They were originally founded in Edinburgh in 1831 and this is still where the headquarters of the business can be found.

It is astounding that the value of claims paid out in 2016 reached the heady heights of over £123 million and below we have provided you the information released relating to these claims and the relevant statistics.

*Claims paid out in 2016

Aegon UK published claims data in March 2017 which shows a total of £123.4 million was paid in claims for life (including terminal illness), critical illness (CI) and income protection (IP), helping more than 1,300 families and businesses in 2016.

Other highlights include:

  • A total of £64.4 million paid out for life claims, a 15% increase on 2015.
  • A total of £35.4 million paid out for CI claims, a 7% increase on 2015.
  • Percentage of life, CI and IP claims paid remains broadly in line with 2015 at 98%, 95% and 85% respectively.
  • Cancer was the most common reason for CI (60%) and life (44%) claims, while most IP claims (27%) were due to mental health related claims in 2016.
  • 26% of life claims paid early under our terminal illness definition.

*information sourced from https://www.aegon.co.uk/content/ukpaw/news/aegon_pays_a_totalofp123millioninprotectionclaims.html

Award winning provider:

  • The Pensions Insight DC Awards 2016 – Winner of the best Independent Governance Committee
  • Schroder UK Platform Awards 2016 – Winner of the best use of platform technology award

Aegon have received many awards over the years and above are the award received in 2016.

With so many providers available for health protection policies, we hope you will find the Medigest business directory of use for helping you find the right providers and policies whether you choose to buy via a specialist broker or financial advisor or directly from an insurance company.

SMP Healthcare