Health.


Why do we believe that health is important?

banked blood (photo)

In 2012 we kept our promises to customers – when they got critically ill we paid out £216 million, when they were unable to work we paid out over £31 million and where they have unfortunately passed away we paid out £475 million. But, whilst we have lived up to our commitments, we recognise that there is a real lack of equality in healthcare services and that choice and access to services is diminishing. Why?

Understanding health challenges and developments allows us to develop better products and improve customer service. Deeper insight about the health of the nation also enables us to set our pricing more effectively and fairly.

Health care systems around the world are facing enormous challenges as they try to cope with ageing populations and continuing economic and financial pressures. It’s not just individuals that face these pressures. New evidence from the Association of British Insurers (ABI) shows there are 17 million employed individuals in the UK for whom long-term illness or disability poses a serious financial risk.

"Welfare is designed to provide for the basic needs of the most vulnerable in society. However, these 17 million would see their household income reduced by between 25–50%, or even more, by relying on state welfare."

Some of these people, approximately three million, have private income protection (IP) cover and an unknown number are covered by their employer’s ’self-insurance’’. This leaves approximately 14 million individuals at risk. That’s 46% of the working population. And, we think it’s too many people.

The problem is that people don’t think about the risk of injury or illness – they think it won’t happen to them.

In the coming decades the demographic composition of nearly all populations in the developed world will change significantly. There will be dramatic increases in the numbers of elderly people. This will lead to major changes in healthcare and welfare provision.

WHICH HEALTH ISSUES AFFECT OUR CUSTOMERS MOST?

Cancers, heart attacks and strokes continue to be the major health issues that affect our customers. Our role as a business is to make sure that our products do their job and pay out to our customers when these health conditions affect them. We also believe that by working with external experts, such as charities and subject matter experts, we can improve our service and understanding of these areas.

In 2012 these are the health conditions that affected our customers the most.

(Download XLS:) Download Excel

Cancer

1448

Terminal Illness

827

Heart Attack

284

Stroke

154

Multiple Sclerosis

148

Permanent and Total Disability

109

Benign Brain Tumour

61

CCIC

60

Coronary Artery By-pass Surgery

44

Heart Valve Replacement or Repair

33

Parkinson's Disease before age 65

24

Angioplasty

23

Kidney Failure

20

Cardiomyopathy

11

Coma

11

Alzheimers / Dementia

9

Motor Neurone Disease

9

Aorta Graft Surgery

6

Chronic Lung Disease/Resp. Failure

5

Major Organ Transplant

5

Deafness

4

Paralysis /Paraplegia

4

Blindness

2

Encephalitis

2

Systemic Lupus Erythematosus

2

Aplastic Anaemia

1

Bacterial Meningitis

1

Traumatic Head Injury

1

What’s being said about us (graphic)

Government and customer views

Both government and our customers have views of how well we do our job in this area

Read (Download PDF:) what´s being said about us (PDF).

You can hear some more of our customers stories in the customer testimonials section of our adviser centre.

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