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

Psychological disorders represent leading cause of long-term sick leave

Psychological disorders represent leading cause of long-term sick leave

AXA Group report

Jaskeet Briah
clock 28 March 2025 • 2 min read
Third of grieving families unable to access financial information

Third of grieving families unable to access financial information

29% unaware of where important documents were stored

Jaskeet Briah
clock 26 March 2025 • 2 min read
Calls for government action on healthier working lives: Health Foundation

Calls for government action on healthier working lives: Health Foundation

Focuses on early intervention and vocational rehabilitation

Jaskeet Briah
clock 12 March 2025 • 3 min read