Zurich pays 90% of IP claims

clock

Zurich paid out nearly £14m in income protection claims, to 765 customers, in 2012.

The amount paid out to UK customers for income protection is part of a total of £173m paid in protection- related claims in 2012 - including £59.9million for critical illness claims and £99.5m for death claims.

The 765 customers represent 90% of claims accepted. Fewer than 2 per cent of claims (1.7 per cent) were turned down for non-disclosure - where the applicant didn't provide all the personal information required at the outset.

The remaining 8.3 per cent were declined as the definition of disability was not met.

The top four conditions paid out on last year include cancer (18 claims), mental health (17 claims), musculoskeletal (16 claims) and severe psychiatric disorder (13 claims).

Peter Hamilton, head of retail propositions in the UK said: "While there is no formally agreed framework, which makes meaningful comparisons between insurers harder, we believe transparency is a good thing.

"The figures reinforce the fact that the vast majority of income protection claims are paid swiftly, providing support when it's needed most.

"As a nation, we remain hugely under insured and we should be proud of the positive difference these claim payments make to the lives of our customers."

Zurich has published its critical illness claims statistics since 2005 and last year paid out £59.9m in claims.

More on Income Protection

UK businesses concerned over sick leave: MetLife UK

UK businesses concerned over sick leave: MetLife UK

88% worried about long-term employee sickness

Cameron Roberts
clock 09 October 2025 • 2 min read
Can income protection keep up with rising sickness absences?

Can income protection keep up with rising sickness absences?

"The IP market needs a comprehensive review"

Monica Garcia
clock 02 October 2025 • 4 min read
Interactive video: Have you had the income protection conversation?

Interactive video: Have you had the income protection conversation?

Income protection is designed to safeguard your client's income if they're unable to work. Yet, the conversation can be a tricky one to have.

Scottish Widows
clock 10 March 2025 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read