98% Insurance Payout – the Highest Ever

One of the biggest myths that stops people taking out essential protection like life insurance, critical illness cover or income protection cover is…

“Insurance companies don’t pay out anyway.”

Well, here’s the truth. In 2019, insurance companies paid out a staggering 98.3% of claims! The highest on record!

Here are the facts via an article from Cover Magazine:

“The insurance industry paid out more than £5.7b in protection claims in 2019 – a year on year increase of more than £470m – the yearly figures shows.

“The percentage of claims paid has risen to 98.3% – up from 97.6% last year – the highest ever on record.

“Over £3b in life insurance claims were paid in 2019 – up by more than £19m year on year.”

If you love statistics and want to read the whole piece, click here. If you would like to discuss your protection needs or would like a free review of your current policies then click here to contact us today.

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