Guardian paid out £15m in 2023

Provider’s first claims statistics

Cameron Roberts
clock • 2 min read

Protection provider, Guardian, has published its first annual claims report, in which it states it paid out over £15 million in claims during 2023.

The payments were split across 150 families and comprised of over £7.5m in life and terminal illness claims alongside £7.5m in critical illness (CI) and children's critical illness claims. The rate of payment for life and terminal illness was at 100% for the provider, with a 92% payout rate for CI and Children's CI. The average amount paid varied by product, average payouts were: Life (£162,043); terminal illness (£168,727); CI (£90,102); and children's CI (£20,907). Katya MacLean, CEO, Guardian, said: "Publishing Guardian's first claims report is a very special moment. It's now been ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Critical Illness

The importance of care

The importance of care

Value-added services for Cancer survivors

Alan Lakey
clock 10 July 2024 • 3 min read
Guardian paid out £15m in 2023

Guardian paid out £15m in 2023

Provider’s first claims statistics

Cameron Roberts
clock 26 June 2024 • 2 min read
Guardian ups additional payments for CIC

Guardian ups additional payments for CIC

Percentage payable increases to 50%

Jaskeet Briah
clock 17 June 2024 • 2 min read