Royal London pays out £632 million in 2021

The insurer noted that it paid out on 99.5% of all claims received last year, across life and terminal illness, whole of life, critical illness and income protection policies. Pay outs for Covid-related claims totalled £24.9m, almost double that paid out during 2020, with around one in 10 life insurance claims relating to the virus. Of the total, around £69,000 was paid out on income protection claims and over £8m in whole of life claims related to Covid-19. Whole of life represented the majority of pay outs by Royal London last year, totalling £313m across more than 80,000 claims. Th...