Last year, Aviva paid nearly 50,600 individual protection claims in the UK amounting to £1.07 billion.
According to the insurer, 2022 was the third consecutive year that claims payments for individual protection claims exceeded £1 billion. Of all the individual protection claims that were lodged, 98.3% were paid last year – the highest claims paid rate reported by Aviva since it acquired Friends Life in 2015.
Here’s the breakdown, as reported by the insurance giant:
|
Insurance product |
Number of claims paid |
Value of claims paid |
% of claims paid |
|---|---|---|---|
|
Life insurance (including terminal illness benefit) |
41,002 |
£683,638,563 |
99.4% |
|
Critical illness (including children’s benefit and total permanent disability) |
4,689 |
£334,070,894 |
93.5% |
|
Income protection |
3,683 |
£50,636,470 |
94.3% |
|
Fracture cover |
866 |
£2,185,300 |
89.7% |
|
Hospital/trauma/therapy/carer cover |
355 |
£531,177 |
99.2% |
|
Totals |
50,595 |
£1,071,062,404 |
98.3% |
“The scale of the payments we consistently make to individual protection customers year-on-year evidences the crucial financial support that our protection insurance provides for tens of thousands of UK households, especially during times of broader cost-of-living challenges,” said Aviva claims philosophy manager Jacqueline Kerwood.
“Over the last five years we have paid over £5.1 billion across more than 200,000 individual protection claims, supporting UK families during the most difficult times.”
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