Two thirds of overall claims paid out for life in 2017

Recently we announced that, according to ABI and GRiD stats, the protection industry as a whole paid out a record-breaking £5bn for group and individual claims in 2017 (97.8%). COVER can now reveal that ABI figures show that life claims represented two thirds (65%) of all group and individual claims paid last year, critical illness cover (CIC) accounted for 23% of the share while 12% of the overall amount was for income protection. The ABI also disclosed that 30% of individual income protection claims were paid due to musculoskeletal issues, 11% following mental health problems and 10...