The insurer received a total of 1,060 claims in 2012, compared to 1,091 in 2011.
Of the 7 per cent of claims which were not paid – 82 claims – 64 were as a result of not meeting the insurer’s conditions and 18 were as a result of non-disclosure.
In total, Scot Prov paid out £94.3m in CI claims, compared with £90m the year before. In 2012, the average payout was £88,975, up from £82,000 in 2011, with the largest claims being £1m and £945,000, respectively.
The average age of claimants in 2012 was 48 while the average amount of time a policy had been in force before a claim was made was nine years and four months in 2012.
Around 60 per cent of claims paid were as a result of cancer, followed by heart attack, stroke and multiple sclerosis, at 13 per cent, 7 per cent and 7 per cent, respectively.
A breakdown of the insurer’s children’s CI statistics show it paid out 78 per cent of claims – 36 in total – worth £661,637. The average payout was £18,379 and the average age of claimant was 8.
All 10 of the children’s claims which were not paid were as a result of the claims not meeting the insurer’s definition.
Scot Prov senior product development manager Jennifer Gilchrist says: “We are proud that our products provide valuable financial support when it is needed most for our policyholders. But too many families fail to appreciate just how much a serious illness can impact on their finances and do not take out protection cover that would give them financial security and peace of mind.
“We need to continue to work hard to promote the value and benefit of protection and turn it into a must have purchase just like car and travel insurance.”