Unum pays out £395 million in claims during 2022

Cancer was once again the most common cause for claims across all of the provider's group risk products, accounting for 69% of Group Critical Illness (GCI) claims, 36% of Group Life Insurance (GLI) claims and 32% of Group Income Protection (GIP) claims. Last year, the number of cancer claims increased 27% to 560 from 440 year-on-year for GIP, while it grew 36% for GCI claims to 296 from 217 and 13% for GLI to 299 from 265. Overall, GCI claims experienced the largest increase in pay outs, rising 31% to £34.7m. The primary reasons for GCI claims have remained the same yearly with cancer...