How many protection claims did Aviva payout in 2020?
Aviva recorded record pay outs during 2020, totalling over £1 billion across its individual protection policies.
- 99.3% of life insurance claims were paid in 2020
- Over £682 million was paid out in life insurance claims
- A total of 42,057 claims were paid
- 2,150 claims were received for deaths related to Covid-19 (4.7%)
- The majority of payouts were due to cancer (28%), cardiovascular illness (12%) and respiratory illness (5%)
Critical illness claims (CIC)
- Aviva paid out a total of £314m
- 92.7% of CIC claims were paid
- 4,300 claims including children’s critical illness and total permanent disability benefit were paid
- Cancer was the most common reason for CI claims being made (57%)
- Aviva paid out on 4,400 income protection (IP) policies throughout 2020, totalling £44.7m
- 87% of new claims were paid
- The average age of an IP claimant was 43 for men and 40 for women
- Musculoskeletal issues were the most common reason for a claim (30%), followed by mental health (24%) and then cancer (9%)
The effect of Covid on claims
Critical illness claims were down by 60% compared to last year. Aviva stated that the pressure put on the NHS by the Covid pandemic was evident due to the drop in cancer-related claims, as people had been put off being tested.
£38.9 million of claims were related to Covid-19, with the majority paid out to families with life insurance policies.
Jacqueline Kerwood, claims philosophy specialist at Aviva, said:
“In a year like no other, the most important outcome for Aviva is that we were there to help more than 50,000 individual protection customers and their families. We are proud of the scale of what we do, but behind every claim, we know there is an individual most likely going through the worst time of their lives and our focus is always to support them with empathy, respect and care.
We continue to challenge ourselves to introduce new initiatives that will help our customers during these times, to speed up claims, make the process simpler and add thoughtful gestures, such as the gifts we send to the families through the ‘Project Teddy’ for children claiming on critical illness.”
Source Cover Magazine April 2020
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