Tony Müdd: It's all about the claim

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...