Life Insurance  

Friends Life pays out 99% of life cover claims

The insurer paid out on 99 per cent of life cover claims in 2013, meaning it paid £111m to help the families of almost 3,500 customers.

Overall, £116m was paid in critical illness claims by Friends Life last year with 91 per cent of all claims made.

The top four illnesses claimed for were cancer, heart attack, stroke and multiple sclerosis with 70 per cent of all claims being cancer-related.

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The insurer stated 85 per cent of income protection claims were paid totalling £21m with average payout of £840 per month.

Customers suffering mental illness or musculoskeletal disabilities made up around half of all claims.

Chris Pollard, head of underwriting, claims and operations for Friends Life Individual Protection, said: “Last year we were able to help more than seven thousand 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.

“Our focus at Friends Life is on the customer, their family and representatives. We are continuing to improve our handling of every claim, including finding ways to speed up the claim process and providing customers with all the support they need.”