New figures show a significant increase in payments made for Covid-19 related deaths to beneficiaries of group life policies during the course of 2021.
According to research conducted by Gen Re on behalf of Group Risk Development (GRiD), total pay outs reached £168.3 million between 1 January and 31 December last year to dependants of employee life assurance policies. This represents a year-on-year increase of 80% compared to total pay outs in 2020, which reached £93m. Total pay outs in 2021 comprised 1,578 lump sum payments, in addition to the capitalised value of 24 dependants' pension claims where Covid-19 was recorded as the primary or secondary cause of death on the death certificate or reported on the claim form. The average...
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