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Friends Life reveals latest claims stats

Friends Life paid out 91 per cent of critical illness claims last year and 85 per cent of income protection claims.

The insurer has published its claims statistics for 2013 today, showing it paid out around £116m in CI claims and £21m in IP claims.

Around 99 per cent of life cover claims were paid out last year, totalling more than £111m.

Cancer accounted for 70 per cent of all CI claims, with heart attack, stroke and multiple sclerosis the most claimed-for illnesses.

On IP, the average payout was £840 per month. Around half of IP claims were from customers suffering mental illness or musculoskeletal disabilities.

In total, the insurer paid out £248m in claims over the year. Across life cover and CI, Friends Life paid out around 19 claims every working day.

Friends Life head of underwriting, claims and operations Chris Pollard says: “Last year we were able to help more than 7,000 of our customers and their families when they needed it most. We are proud to help our customers in times of need and distress, paying out £1m every working day.”

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