Covid dominates The Exeter's IP pay outs in 2020

One-third of claims

John Brazier
clock • 1 min read

Covid-19 accounted for 32% of all income protection claims received by The Exeter during 2020

According to the latest figures from the insurer, pay outs for income protection totalled £10.1 million, equating to 91% of all claims submitted during the year. Covid-19 was the single most claimed for condition in 2020, representing nearly one-third (32%) of claims, while other conditions accounting for a large number of claims included musculoskeletal conditions (21%) and accident and injuries (12%). The Exeter paid out on 1,745 of the 1,917 claims received throughout the year. The main reason for claims not being paid was misrepresentation (65%), where questions are not answered c...

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 Income Protection

Why we still need to talk IP

Why we still need to talk IP

"Increasing sales starts with education"

Matthew Chapman
clock 14 March 2024 • 3 min read
Cirencester Friendly pays out £9.3 million in 2023

Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock 14 March 2024 • 2 min read
British Friendly pays out £5m in IP claims

British Friendly pays out £5m in IP claims

Provider pays out 89% of new IP claims in 2023

Cameron Roberts
clock 11 March 2024 • 1 min read