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Since 2006 we have helped 339,607 people compare Protection Insurance quotes.
We would love to do the same for you...

2021 saw more insurance claims for musculoskeletal conditions, but fewer mental health claims

New statistics released by the Association of British Insurers (ABI) paint a fascinating picture of how our needs in relation to protection insurance have evolved over the last few years.

The ‘headline’ finding was that a record £6.8 billion was paid out in group and individual life insurance, critical illness and income protection claims over the course of 2021 - the equivalent of £18.6 million a day, which was £1.6 million more a day than the previous record set in 2020.

The ABI stated that there had been a “bumper” rise in individual protection claims, despite a fall of 1.6% in the total number of new claims made; the trade association attributed this to a greater number of individual term assurance and critical illness claims, which have much higher values.

Sure enough, term assurance policies during 2021 had an average claim payment of £61,944, while for critical illness, the equivalent figure was £67,500, with these amounts being described by the ABI as “consistent with 2020”.

An increase in the average individual payout in 2021 means that this measure has now gone up for three consecutive years. The average claim value during the year was £14,994, which was 9% higher than 2020’s figure.

But what about the changing nature of our needs from protection cover?

As insightful as the above findings are, here at QuoteLifeCover, our heads were particularly turned by the data provided in relation to the types of claims made - and what this says about our evolving relationship with protection products such as income protection insurance.

The ABI said that there had been a 40% increase in claims for musculoskeletal conditions, for example. Individual income protection claims made in relation to these conditions reached 5,012 last year. This, in turn, raises the question of whether increased homeworking might have led to many people working in less-than-suitable working environments, and consequently suffering from back problems.

But on the other hand, while 2020 had seen a significant rise in mental health claims under individual income protection insurance, such claims plummeted by nearly 20% in 2021. They were still above 2019’s figure, however, which suggests that the adverse mental-health impacts of the COVID-19 crisis continued to reverberate through the pandemic’s ‘second year’.

And on the subject of COVID-19, payouts for individual claims related to the pandemic nearly doubled during the year, to £261 million, despite the number of claims barely changing from 2020’s figure. This was because of a 69% rise in term assurance claims - ‘term assurance’ being another name for term life insurance - with the average payment for this type of claim being £69,760.

The overall number of individual income protection insurance claims fell over the course of 2021, from 17,000 to 14,600. The ABI suggested a number of possible factors in this decrease, such as higher unemployment levels, a lot of people still being on the UK Government’s furlough scheme, and insurers prioritising ‘early intervention’ offerings, such as specialist support services, that might have decreased the likelihood of someone making a claim.

Whatever protection insurance you’re in the market for, QuoteLifeCover is available to help

Are you reading this as someone with an interest in purchasing a protection insurance product such as critical illness cover, life insurance, or income protection insurance, but are unsure what your next steps should be?

In that case, giving our no-obligation advice and quotation line a call could be an excellent such step to take. We are available for free on 0800 316 6917, and when you reach out to us, our UK adviser will discuss your situation and requirements, and help you make sense of the sometimes confusing and overwhelming world of protection cover, so that you can find only the very best solution.

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Get Insured within 20 Minutes

It is possible to be protected with a life insurance or critical illness policy within 20 minutes provided the insurer does not require a GP report or medical.

A GP report or medical is normally required for large amounts of cover (over £400,000), or if your BMI is over 30, or you have any significant ongoing or past medical issues, or if you are involved in dangerous job or high risk hobby.

Calculate Your Cover

Find out how much cover you might need by using our simple online calculator. It will take into account your outstanding mortgage, any loans or credit cards, your monthly income and how many children you have.

Ultimately the right amount of cover is often a balance between what might be an ideal figure and what you can sensibly afford.

Calculate your cover here

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Read What Our Customers Think of Us

Five Stars (4.9)

Great communication, help and guidance.

All my questions were answered, as I know little on how life cover, critical illness and terminal insurance policies work.

I was given good independent advise, so I could confidently make my choice on what was right for me.

- Denise

Clear, friendly, efficient and prompt service.

No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.

- Ms Shannon

I found the customer service representative very polite and informative and helpful.

I wished some information on life insurance for a mortgage I have applied for.

All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.

- Mrs Severn

Very good professional service.

I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.

- Mrs Cookson

Professional and no-nonsense approach.

Very thorough yet friendly service. Good contact and information one can understand.

- Heather Cronley

A professional customer centric company with the client at the heart of the transaction.

The advisor put me at the heart of the transaction, was professional, gave realistic opinions and suggestions offering me choices in clear terms which I understood.

- Andrew Hughes

Outstanding service and knowledgeable customer service rep.

I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.

Marie was very sensitive when discussing personal circumstances and listened carefully and showed compassion to my details. Marie then said ‘leave it with me and ill get back to you’, within 20 minutes Marie was back on the phone with the quotes as promised and gave me a selection of options to chose from.

Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.

I cannot fault this service and the professionalism I received.

- N Marsden

Excellent Service.

Great service, easy to understand terminology. Everything explained and documented by adviser. Thank you.

- Glenda

The quotation service is provided by an FCA-authorised insurance specialist

Promoted Premiums for 35 year old male (non-smoker) on a 25 year term - September 2022*
Life Insurance: £5/month = £65,371 sum insured
Critical Illness Cover: £10/month = £27,546 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,230 sum insured

 

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