Cirencester Friendly pays 94.7% of claims

clock • 1 min read

Cirencester Friendly has paid 94.7% of income protection claims submitted in 2017, totalling £4.4m in sick pay benefit.

The total of £4.4m was a 9.2% increase on 2016, the friendly society said. The common reason behind making a claim was accident or injury which accounted for 40% of applications, highlighting the value of insuring against the risk of less obvious causes of lost earnings. The claims that were not accepted were due to non-disclosure and where there was no actual loss of earnings. Rebecca Young, head of marketing at Cirencester Friendly said: "We exist to support our members financially when they need us most and that is why I am pleased to once again, be able to report such positive ...

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 Income Protection

Profile of an IP customer: learnings from 2024

Profile of an IP customer: learnings from 2024

Panel with the IPTF and IRESS

Cameron Roberts
clock 13 December 2024 • 1 min read
Accident victims living with long-term health issues

Accident victims living with long-term health issues

"Younger people are particularly vulnerable"

Jaskeet Briah
clock 05 December 2024 • 3 min read
Partner Insight: New Age of Income Protection

Partner Insight: New Age of Income Protection

From Love Island to loving income protection, for Gen Z income protection should be "100% my type on paper", however, also like on Love Island, this does not guarantee compatibility.

Julie Thompson, Protection Proposition Manager, Scottish Widows.
clock 03 December 2024 • 6 min read