Zurich has revealed its payment rates for group income protection claims for the first time.
Over 97% new claims were accepted last year with employees benefitting from annualised payments averaging £37,900. During 2016, cancer was the main cause of claims at 27 per cent, followed by mental health (19 per cent) and musculoskeletal claims (13 per cent). Half of employee absences notified to Zurich did not progress beyond the end of the deferment period and therefore did not reach claim stage. A large proportion of these are where the employee returned to work. Other reasons include...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.