"What many do not realise is how statistics hide major disparities between the sexes"
ALAN LAKEY
It was 20 years ago today. No, not when Sergeant Pepper taught the band to play – that was 1967. I’m referring to the year when insurers began releasing statistics around critical-illness claims.
Back in 2004, the declinature rates were scary, with Aegon rejecting 28% of claims and Aviva 26%. The figures were unacceptable and a stain on the face of the protection industry. The BBC’s Panorama devoted a whole programme to the problem and the representative from the Association of British Insurers (ABI) sat uncomfortably as a litany of examples and statistics were unveiled. This bad PR, picked up by the financial press, dissuaded many from taking out a valuable protection plan.
