Zurich pays out 97% of 2017 protection claims

Adam Saville
clock • 2 min read

Paid life claims reached 99% and mental health most common reason for IP pay-out

Zurich has announced it paid 97% of all retail protection claims last year - a payments total of £235.2m to 2,872 customers and their families - which compared to 95% paid claims in 2016 (£224.6m). Critical illness A total of 867 critical illness claims were paid in 2017 (95%), at a cost of £65.2m to the insurer. Cancer - the most common cause of critical illness pay-outs - alone accounted for 59% of CIC payments and amounted to £40m worth of claims. Heart attack was the second most common reason for claims (14%), followed by stroke (6%) and multiple sclerosis (3%). The avera...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Half of UK adults do not have a will: Canada Life

Half of UK adults do not have a will: Canada Life

61% of those who wrote their own will did not seek advice

Jaskeet Briah
clock 22 March 2024 • 2 min read
Aviva pays out £1.18b for individual protection claims in 2023

Aviva pays out £1.18b for individual protection claims in 2023

Over £413m paid out across group protection

Jaskeet Briah
clock 21 March 2024 • 3 min read
Beneficiary nomination used on 68% of Guardian's life insurance policies

Beneficiary nomination used on 68% of Guardian's life insurance policies

Accounted for 74% of life insurance claims paid

Jaskeet Briah
clock 20 March 2024 • 2 min read