70 families a day get payouts!

Latest figures from the Association of British Insurers (ABI) highlight the vital role insurance plays in helping customers cope with the financial difficulties that can arise as a result of a death, serious illness or injury.

Every day in 2011 insurers paid out £6.7million, split between nearly 170 individuals and families who made claims on life, critical illness and income protection insurance policies.

In 2011:

·         The average payout on a life insurance policy was £46,000.

·         The average payout on a critical illness insurance policy was £59,000.

·         The average claim on income protection policies was £14,000 annually, paying out on average for five years to help those unable to work.

Stephen Gay of the ABI says, “The insurance industry pays out £6.7million every day in individual life, critical illness and income protection insurance claims, making a real difference to people’s lives at the most difficult of times.”