HSBC Life pays 100% life cover claims in 2019

HSBC Life paid out £36m worth of life cover claims (100%) last year - a total of 1,409 - and the average age of claimant was 71 years old. Insurance arm of the global bank also paid 98% of critical illness cover (CI) claims in 2019 - this equated to 516 claims equalling £27m. The largest CI claim was £500,000. Cancer accounted for 34% of all of HSBC's life insurance claims in 2019 and respiratory disease was the second most-common cause of death (19%), followed by cardiovascular disease (14%). The average age of CI claimant was 51 years old and the main three conditions suffered by...