Aegon UK pays out £139 million for individual protection claims in 2021

Cancer most common reason for claiming on life policies

Hemma Visavadia
clock • 2 min read

Aegon UK has paid out over £139 million in individual protection claims in 2021, up 7% from 2020, driven by an increase in life claims.

Aegon reported 21% more individual life claims in 2021 compared with 2020, with Covid-19 accounting for 20% of all life claims last year -  up from 14% in 2020 and 7% in 2019. For life claims in 2021, cancer remained the most common cause of death, accounting for 34% of claims, followed by respiratory-related claims (20%) and cardiovascular-related claims (19%). The provider noted that cancer and cardiovascular life claims remained largely similar in the last two years of the pandemic, while claims for respiratory-related deaths reportedly tripled from 2019. The provider said that ...

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