Claims pay outs rise 25% for Reassured's customers

MetLife paid out to 692 customers

Jaskeet Briah
clock • 1 min read

Pay outs for life and critical illness (CI) claims increased 25% year-on-year for customers of life insurance broker, Reassured, which is up from a 37% rise in 2022.

Overall, payment figures hit £50m from across Reassured's core insurer panel last year, surpassing the 2022 total by over £10m, with a total of 1,235 claims paid out. An average of over 100 individuals and families per month saw their policy pay out across the year. Alongside its core panel, other business areas also saw claims growth, with MetLife UK paying out to 692 Reassured customers in 2023 for various causes, including hospitalisation and broken bones. Phil Jeynes, director of corporate strategy at Reassured, said: "Far beyond any awards or accolades, genuine consumer outcom...

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

Cancer cases rise for RedArc

Cancer cases rise for RedArc

Represented the most new cases

Jaskeet Briah
clock 03 February 2025 • 2 min read
The COVER Review: New partnerships, growth and industry movers

The COVER Review: New partnerships, growth and industry movers

Week commencing 27 January 2025

COVER
clock 31 January 2025 • 1 min read
Third of pensioners' income is used to pay off a mortgage

Third of pensioners' income is used to pay off a mortgage

14% of those still paying off their mortgages are retired

Jaskeet Briah
clock 31 January 2025 • 3 min read