Tony Müdd: It's all about the claim

‘A word of warning to providers’

clock • 4 min read

The Claims Charter, client case studies and more transparent provider data are what’s needed to change the perception of life insurers, writes SJP protection expert

Has it really taken a pandemic to convince people that life insurance should be an essential purchase rather than a grudge purchase? I think it has. The Association of British Insurers (ABI) released figures in August showed that in the three months ending 31 May, providers paid out nearly £980,000 per day in life claims with an average sum assured of around £63,000 per claim. Legal & General announced in December in the nine months to 1 December, they had paid a total of £42.6m from their individual and group life portfolios for Covid-19 cases alone. These are very sad and chilling f...

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 Adviser / Broking

Stonebridge adds new AR

Stonebridge adds new AR

Vibrant Mortgages partnership

Cameron Roberts
clock 27 October 2025 • 1 min read
Advisers see rise in client anxiety ahead of Autumn Budget

Advisers see rise in client anxiety ahead of Autumn Budget

Royal London research findings

Jenna Brown
clock 22 October 2025 • 3 min read
Six ways to make income protection the no-brainer

Six ways to make income protection the no-brainer

"Your tone should reflect leadership, not persuasion"

Ash Borland
clock 22 October 2025 • 4 min read