Aviva pays out £1.18b for individual protection claims in 2023

The provider said this is the highest annual amount it has paid to date, paying 97.8% of all individual protection claims in 2023, including for individual life insurance, critical illness cover (CI), income protection (IP) and other protection policies. Aviva also paid out more than £413m across group protection policies last year, meaning a total £1.59b was paid out across all protection policies in 2023. Life insurance More than £761 million was paid out on individual life insurance and terminal illness benefit claims last year, up 11% from £78m in 2022. This is despite the numbe...