Tony Müdd: It's all about the claim
‘A word of warning to providers’
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...
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