Claims support for breast cancer is increasing as speed of payouts and help for customers expands, according to HSBC Life (UK) Ltd, HSBC Group’s insurance business, as it marks this year’s Breast Cancer Awareness Month.
HSBC Life is urging advisers to make full use of critical illness polices, so it can deliver the best possible support for claimants.
During the first half of this year, HSBC Life (UK) paid 100% of all breast cancer claims received, across the whole of its protection proposition (building on a 2021 payout rate of 98.6%); and improved its focus on fast turnround of claims.
It states that examples of best practice have included customers receiving payments of £84,000 within two days of making a claim on a critical illness policy and a payment of £130,000 within a day of notifying HSBC Life, which cleared the customer’s mortgage.
HSBC Life is urging advisers to be aware of both the full range of support available and the differences in critical illness policies – including added value services and differences to standard cover definitions among providers.
Mark Hussein, CEO, HSBC Life (UK), said: “Encouragingly, the number of breast cancer survivors in the UK now passes 600,000. However, Breast Cancer Awareness Month remains a vital campaign – underlining the advances in treatment of the condition which sadly remains the fourth most common cause of cancer death in the UK.
“Protection insurance providers have substantially enhanced the services offered to breast cancer claimants and that is highlighted by the speed of pay-outs, and the wide range of additional support. Advisers have a crucial role to play in ensuring their customers are fully aware of all the support available.”