Scottish Widows pays out £236.6m in 2024

The claims pay out rate was 98% in 2024, made up of 99.1% of life insurance claims paid out and 91.8% of critical illness (CI) claims paid out. Over 11,500 customers received a pay out in 2024, made up of 9,939 life claims and 1,609 CI claims. This number of claims totalled £141.4m paid out in life claims and £95.1m in CI claims. The amount paid out by the insurer slightly decreased year-on-year, in 2023 it paid out £243m. The rate at which claims were paid in 2024 stayed steady compared to 2023, both reporting a 98% claims paid rate. Cancer was the biggest reason for claim across ...