The Exeter – How many Income Protection Claims were paid in 2021?
The Exeter paid out a total of £10.4 million on income protection claims last year, an increase of 4% on its total in 2020.
Overall, The Exeter paid out on 93% of total claims received last year.
In 2021, musculoskeletal claims remained the most common reason for workplace absence. Often arising from sporting injuries and accidents needing several weeks to make a full recovery and return to work.
The average age of claimants on The Exeter’s newer policies was just 37 years old, highlighting the importance of younger clients protecting themselves against the financial impact of illness or injury.
The most common reason for claims was:
- musculoskeletal conditions (38%)
- hip or knee conditions (9%)
- mental health (7%)
Chris Pollard, chief operating officer at The Exeter, commented that the reduction in Covid-related claims was “welcome” as the country moves closer to the end of the pandemic.
“Most of our members continue to elect to use our digital claim service, with almost 40% responding within 48 hours. We continue to signpost our members to the valuable support services provided by our HealthWise app, which experienced a 48% increase in usage from income protection members last year,” he added.
Source: Cover Magazine April 2022
For more information on The Exeter’s claims click HERE
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