{"id":1557,"date":"2022-12-15T10:16:33","date_gmt":"2022-12-15T10:16:33","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=1557"},"modified":"2022-12-15T11:34:53","modified_gmt":"2022-12-15T11:34:53","slug":"protection-insurance-payouts-on-the-up","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/12\/15\/protection-insurance-payouts-on-the-up\/","title":{"rendered":"Protection insurance payouts \u2013 on the up"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Protection\npolicies can help give you peace of mind by making sure you can meet financial\ncommitments and know that your loved ones will not face hardship if you suffer\nmisfortune of a specified kind.&nbsp; <\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Last year,\nclaims paid out under protection insurance totalled \u00a36.8bn<sup>1<\/sup>, a\nsecond consecutive yearly high, with over \u00a318.6m paid out every day in life\ninsurance, income protection and critical illness claims. It was the third year\nin a row where the overall average individual payout increased, rising by 9% year-on-year\nto reach \u00a314,994. The average critical illness claim payment was \u00a367,500 and\n\u00a361,944 for term assurance.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Claims pay\nout<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In 2021,\n98% of individual and group claims were paid, with \u2018non-disclosure\u2019 cited as\nthe main reason for the 2% of rejected claims. This is when a customer fails to\nprovide information about something that might have influenced the insurer\u2019s\ndecision to provide cover. <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>One\nemerging trend was a 40% rise in claims for musculoskeletal conditions last\nyear, which could be linked to a higher number of people working from home in\nunsuitable conditions. There were 20% fewer claims relating to mental health in\n2021, although mental health claims were still above their 2019 level. <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>More than\njust a number <\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Behind the\nkey data is a vast number of families given support when they<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>needed it\nmost.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>ABI\nand GRiD, 2022<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Protection policies can help give you peace of mind by making sure you can meet financial commitments and know that your loved ones will not face hardship if you suffer misfortune of a specified kind.&nbsp; Last year, claims paid out under protection insurance totalled \u00a36.8bn1, a second consecutive yearly high, with over \u00a318.6m paid out [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1557"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=1557"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1557\/revisions"}],"predecessor-version":[{"id":1558,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1557\/revisions\/1558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/1562"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=1557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=1557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=1557"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=1557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}