Scottish Widows pays out over £199M in protection claims during 2022

The insurer detailed that it paid out on over 98% of all claims received through the year, the fourth year it has done so, despite an 11% rise in critical illness claims in 2022 - attributed to a decline in claims in 2021 due to Covid-19 and extra pressure on healthcare services. Overall, Scottish Widows paid out on 99.4% of life claims and 93.3% of critical illness claims, representing 8,555 and 1,552 claims respectively. The two main reasons for claims not being paid were misrepresentation and cause of claim not being covered by the policy. Broken down, in 2022 75% of life claims...