British Friendly pays out £5.6m in IP claims in 2020

52% y-o-y growth

John Brazier
clock • 1 min read

Mutual paid 87% of all claims received with Covid-19 related conditions, which grew to the second highest reason for claim

British Friendly has recorded a 52% annual growth increase in the amount paid out in claims totalling £5.6 million paid to over 1,300 members. The mutual stated that it has paid an average of 95% of all income protection claims since it began recording claims data in 2005. Covid-19 rose to the second highest reason for income protection claims received last year (13.6%), behind musculoskeletal conditions (40.4%), but moving above anxiety/depression (13.4%) and non-Covid related respiratory and infectious diseases (9.4%). The high number of musculoskeletal conditions confirmed the c...

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