Unum pays out over £200m in group IP claims in 2021

Total pay out of £366m

John Brazier
clock • 1 min read

Group Income Protection (GIP) claims accounted for over half (55%) of all claims paid out by employee benefits provider Unum last year.

Unum paid out a total of £366m across GIP, critical illness and life insurance claims throughout 2021, representing a rise of £6.5m (1.2%) from the previous year's total. Cancer was the most common reason for a claim across the policy groups, with critical illness (65%) ahead of life insurance (36%) and GIP (30%). Rehabilitation referrals for cancer claimants saw 98% return to work success rate, as Unum announced an overall success rate of 95% (1,295 individuals) across all referrals. Meanwhile, the provider noted that mental health-related claims fell from 18% in 2020 to 11% last ...

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 Group Protection

Equipsme adds elder care support services for members

Equipsme adds elder care support services for members

Includes monitored devices connected to trained staff

Jaskeet Briah
clock 22 March 2024 • 1 min read
Workers prioritise mindfulness as part of mental health support

Workers prioritise mindfulness as part of mental health support

Canada Life research shows

Jaskeet Briah
clock 14 March 2024 • 1 min read
Santé Group partners with Vanquish Business Services

Santé Group partners with Vanquish Business Services

Extending suite of services

Jaskeet Briah
clock 14 March 2024 • 1 min read