Zurich pays out £353m in protection claims in 2020

Up 23% on 2019

John Brazier
clock • 2 min read

Life insurance claims grow but critical illness protection falls most likely a result of restricted medical access due to Covid pandemic

Protection claims processed by Zurich grew 23% year-on-year during 2020, with over 6,000 life, critical illness and income protection customers receiving payments worth over £353.7 million. For life claims, 98% were paid, amounting to over £279.6m, an increase of 37 compared to the year prior. Zurich noted that it denied claims where key parts of claimant medical histories were omitted when submitting applications. For example, a customer with a life insurance policy was insured for £100k following a straight-forward application with no previous medical problems.  In 2020, a claim was...

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 Individual Protection

Consumer Duty remains the biggest opportunity to expand protection

Consumer Duty remains the biggest opportunity to expand protection

"It is very easy to get bogged down in the regulatory requirements"

Andrew Gething
clock 18 November 2024 • 4 min read
NHS waiting list records drop in September

NHS waiting list records drop in September

A&E under strain

Jaskeet Briah
clock 15 November 2024 • 2 min read
COVER Protection and Health Summit 2024: In pictures

COVER Protection and Health Summit 2024: In pictures

Event on 07 November

COVER
clock 13 November 2024 • 1 min read