Boys under the age of 18 significantly more likely to sustain a fracture than girls
A study by MetLife has found that nearly two in five (39%) adults do not believe that individual protection policies cover fractures, while nearly half of those surveyed (49%) did not know whether policies covering ‘everyday risks' - such as broken bones - existed.
According to research carried out by Consumer Intelligence in March this year, it is estimated that 600,000 people suffer broken bones each year and researchers believe that boys have a 30% chance of breaking a bone before the age of 18, while girls have a 19% chance.
The research also suggested that 66% of boys and 40% of girls will sustain a fracture before their 15th birthday.
According to MetLife, around 56% of its broken bones claims last year were for adults, while 44% were for children.
Guardian recently removed fracture cover from its life and critical illness proposition, while Zurich, Aviva and LV= have all applied exclusions to high-risk pastimes such as rugby, horse riding and motorcycling to policies in recent years. Read more about that here.
MetLife, meanwhile, offers MulitProtect, a standalone policy specifically covering broken bones, including fractures and chips. Adults can receive pay-outs of up to £3,750 per major broken bone and a child cover benefit can be added to cover children. It also covers hospital stays.
"There is a clear need for policies which cover fractures," said Richard Horner, head of individual protection, at Metlife. "The risk of breaking bones is unfortunately a real one for many, with around 600,000 reported each year.
"Fractures can have a major impact on everyday life so it makes sense to have affordable cover which pays out and enables people to concentrate on getting better without having to worry about their finances," he said. "Advisers are the key to helping customers find products that meet their needs."
Metlife paid £8.6m of 11,428 claims in total to customers with an individual policy in 2018.
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