Group life Covid-related payouts total £125.7m for H1 2021

GRiD statistics

John Brazier
clock • 1 min read

The total payouts for Covid-related group life policies during the first half of the year exceed the total from 2020.

Dependants of employees with insured employer-sponsored death benefits have received more financial payouts as a result of Covid-19 in the first half of 2021 than in the whole of 2020, according to Group Risk Development (GRiD). The industry trade body found that payouts for Covid-19-related claims stood at £125.7m for H1 2021 for group life benefits, compared to £93m for 2020. The average lump-sum payment was over £98,112 during the six-month period. GRiD stated that 18% of all group life claims paid by insurers during H1 2021 were related to Covid-19, which was in line with figur...

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 Group Protection

Quarter of employers not recording sickness absence impact

Quarter of employers not recording sickness absence impact

GRiD finds

Jaskeet Briah
clock 23 October 2024 • 2 min read
Improved employee wellbeing can boost UK productivity by £34bn

Improved employee wellbeing can boost UK productivity by £34bn

Cultural factors impact wellbeing

Jaskeet Briah
clock 22 October 2024 • 2 min read
Menopause costs UK economy £11bn

Menopause costs UK economy £11bn

World Menopause Day 2024

Cameron Roberts
clock 18 October 2024 • 2 min read