British Friendly – How many Income Protection claims were paid in 2021?
British Friendly (BF) has announced that it paid 84% of all new Income Protection claims in 2021, including the moratorium policies.
- British Friendly paid 94% of new Income Protection claims
- The mutual stated that musculoskeletal-related issues were the top reason for claiming in 2021 (34%), followed by Covid-19 (13%), anxiety or depression (9%), as well as non-covid-19 related respiratory or infectious diseases and gastrointestinal, respectively (6%).
- Paid out over £100,000 in BF Care claims in Q1` of 2022.
- The insurer said it paid out claims for each of the five BF Care benefits – Bereavement Benefit, Terminal Illness Benefit, Death Benefit, Care Assistance Benefit, and Recovery Support Benefit.
In total, during Q1, BF Care benefits were paid to 20 members and their families, while over 50% of BF Care claims paid were under the Bereavement Benefit, with the average amount being paid out equating to £5,146. In addition, for Death Benefit claims in Q1, the average amount paid out was £8,157.
Maxine Jannetta, head of claims at British Friendly, explained: “We believe it’s important to show that insurers really do pay out, but we do so much more than just pay claims.”
“We support our members through rehabilitation, recovery and help them find ways to return to work, even if that’s a different occupation or reduced hours, in order to help them regain a sense of purpose as well as recover any financial loss.”
Source: Cover Magazine May 2022
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