{"id":9873,"date":"2022-12-15T09:23:23","date_gmt":"2022-12-15T09:23:23","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=9873"},"modified":"2022-12-15T09:23:27","modified_gmt":"2022-12-15T09:23:27","slug":"on-the-rise-protection-insurance-payouts","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/12\/15\/on-the-rise-protection-insurance-payouts\/","title":{"rendered":"On the rise \u2013 protection insurance payouts"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Claims paid\nout under protection insurance totalled \u00a36.8bn in 2021<sup>1<\/sup>, a second\nconsecutive yearly high, with more than \u00a318.6m paid out every day in life\ninsurance, income protection and critical illness claims.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Last year was\nthe third year in a row where the overall average individual payout increased,\nrising by 9% year-on-year to reach \u00a314,994. For term assurance, the average\nclaim payment was \u00a361,944 and the average critical illness claim payment was\n\u00a367,500.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Last year, 98%\nof individual and group claims were paid. However, \u2018non-disclosure\u2019 was cited\nas the main reason for the 2% of rejected claims. This is when a customer fails\nto provide information about something that might have influenced the insurer\u2019s\ndecision to provide cover or the price of that cover.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>More than a\nnumber<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Protection\npolicies can help give you peace of mind by making sure you can meet financial\ncommitments and knowing that your loved ones will not face hardship. Behind the\nheadline facts are millions of families given support when they needed it most.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>ABI and\nGRiD, 2022<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>As a mortgage is secured against your home or property, it could be\nrepossessed if you do not keep up mortgage repayments<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Claims paid out under protection insurance totalled \u00a36.8bn in 20211, a second consecutive yearly high, with more than \u00a318.6m paid out every day in life insurance, income protection and critical illness claims. Last year was the third year in a row where the overall average individual payout increased, rising by 9% year-on-year to reach \u00a314,994. [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":9867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/9873"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=9873"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/9873\/revisions"}],"predecessor-version":[{"id":9876,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/9873\/revisions\/9876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/9867"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=9873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=9873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=9873"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=9873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}