Aviva UK reveals individual protection claims figures

Claims philosophy manager offers insights

Aviva UK reveals individual protection claims figures

Claims

By Terry Gangcuangco

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.”

What do you think of this claims story? Share your thoughts in the comments below.

 

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