The insurer’s latest statistics also revealed the value of claims paid for life cover increased 25 per cent to £54.9m, while the value of CI claims rose 37 per cent to £33.2m in 2013.
Of the CI claims declined in 2013, 56 per cent were due to the definition not being met, while 44 per cent were down to misrepresentation.
Of the life claims that were declined in 2013, 93 per cent were blocked due to misrepresentation and 7 per cent were due to the definition not being met.
Alan Lakey, founder of CIExpert and principal at Hertfordshire-based Highclere Financial Solutions, said: “The Aegon claims figures are very good, equalling their best ever 93.0 per cent in 2011.
“The only other insurer to disclose 2013 figures thus far is Zurich with 93.8 per cent, which indicates that the industry is improving continually.”
Critical illness claims
| | Claims declined | Due to non-disclosure | Not meeting the claim definition | Year |
| Aegon/S.Equitable | 7.0% | 3.0% | 4.0% | 2013 |
| Aviva | 7.5% | 1.7% | 5.8% | 2012 |
| Bright Grey | 7.0% | 4.0% | 3.0% | 2012 |
| Friends Life | 11.0% | 3.0% | 8.0% | 2012 |
| Legal & General | 6.9% | 2.3% | 4.6% | 2012 |
| LV= | 8.6% | 2.2% | 6.5% | 2012 |
| PruProtect | 7.1% | | | 2012 |
| Scottish Provident | 7.2% | 1.6% | 5.6% | 2012 |
| Scottish Widows | 12.0% | 4.0% | 8.0% | 2012 |
| Skandia | 4.7% | 1.4% | 3.25% | 2012 |
| Zurich | 6.2% | 4.9% | 5.8% | 2013 |
