How many protection claims did Aviva payout in 2020?

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.

Life claims

  • 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%)

Income protection

  • 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.

Financial support

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

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof

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Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

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