The Exeter – How many Income Protection Claims were paid in 2019?

The Exeter income protection claims statistics in 2019

• The average age of claimant was just 34 years old in 2019
• The average length of claim was 60 weeks
• 1,367 members received support whilst unable to work due to illness and injury last year
• Overall the insurer paid out 91% of its income protection (IP) claims
• The average claim was £3,920

Why did members claim?

• Accidents and injuries accounted for nearly half of the claims (46%)
• Musculoskeletal conditions (17%)
• Mental health conditions and common infections, such as coughs and colds (18%)

Making it easier to claim

50% of digital forms were fully completed and returned within 48 hours in 2019. Following the launch of their digital claims forms last year.

Financial Support

Chris Pollard, chief operating officer at The Exeter: “An increasing number of younger people are claiming on their income protection policy. Many of us might be guilty of the ‘it will never happen to me’ thought. However, recent events and our evidence show we never know what is around the corner. A shock to income due to an unexpected change in circumstances can have a devastating impact. Advisers remain vital in promoting and discussing with clients the importance of considering income protection from the very start of their working lives.”

Added Benefits

If you have a policy with The Exeter, you and your family will have access to HealthWise, a member benefits service.

The mutual reported that its IP members booked 160 HealthWise consultations for help and support for a range of conditions during 2019.

At The Exeter, we have a core focus on providing our members and their families with financial security. Coupled with convenient wellbeing support. We continue to improve, our service and offerings for the benefit of our members.”

If you are interested in arranging protection insurance it really can pay to take expert advice.

Get a Quote

Next steps

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

Any quote your adviser provides you with will take into account your circumstances, your 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

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

Interested in related stories

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• The protection industry pays out over £5.7bn in claims in 2019
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• The Importance of putting your policy in Trust
• What questions will I be asked when I speak to an adviser about Life Insurance?

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