Group risk claims paid out in 2021 rose to £2.2 billion

Cancer most common cause for claims

Hemma Visavadia
clock • 1 min read
Group risk claims paid out in 2021 rose to £2.2 billion

A total of £2.22bn was paid out in claims by the group risk industry in 2021, rising by £208.4 million compared with 2020 results, according to figures from Group Risk Development (GRiD).

The GriD data found that cancer was the main cause for claiming in 2021, followed by critical illness claims for heart disease, mental illness and heart attacks. Having Covid-19 was the third most common cause of claiming, with the average lump sum death benefit payment reaching £100,387. For group life assurance policies, £1.57 billion was paid out, an increase of £198.47 million from 2020. However, group income protection policies pay outs dropped slightly to £546.1 million, while critical...

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