Mon to Thur 10:00am – 7:30pm / Fri 10:00am - 4:30pm
Call us on 0800 024 8685 / 01202 714177

Level and Decreasing Life Insurance for Mortgage and Family Protection

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Critical Illness Cover will pay out upon diagnosis of a critical illness

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Whole of life policies cover funeral arrangements, inheritance and tax bills

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Over 50's plans are suitable for people with pre-existing medical conditions

  • Up to 25% cheaper than going direct*
  • Free Will worth £150 with every policy*
  • 5 Star TrustPilot Rating

Providers unveil impressive claim statistics

10th April, 2018

Providers unveil impressive claim statistics

It’s that time of year again when providers release their claims data. As usual, a number of providers have surpassed their previous records, with Old Mutual Wealth recording a 100% record on life claim payouts for the eighth year running.

The wealth management firm showed an equally strong performance in the critical illness sector, by paying out 94.6% of all claims in 2017. Other providers have been eager to prove assumptions about provider reliability wrong, with Legal and General paying 98% of all life claims, and 92% of all critical illness. This equates to a massive £1.74m per day across all claims.

These figures are still important to advisers, after a recent Mutual Wealth survey showed that just 6% of adults believed providers paid over 90% of critical illness claims. Experts point towards these assumptions as one of the reasons for the protection gap in the UK.

« Return to industry news page