Cirencester Friendly pays out £9.3 million in 2023

Nearly half of claims were from Millennials

Jaskeet Briah
clock • 2 min read

Cirencester Friendly paid out 95.8% of claims to members in 2023, with a total of £9.3 million being paid out in benefits, up from £8.5m in 2022.

The income protection (IP) provider paid out 1,177 of 1,229 claims last year, with 52 claims declined as no proof of income was provided, the claimant had a continuing income, the information received either arrived too late or was inaccurate. Key reasons for claiming were accidents (32%) and back, neck, shoulder, muscular and arthritis (25%), as well as 'other' reasons such as those relating to digestive, nervous system, respiratory, ear, eye, skin, blood and allergies (18%). The longest claim lasted for 33 years and the average annual payment for claims was £4,885, with the highest ...

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