Protection Policy Payouts
Although personal protection policies (Life insurance and income protection etc) are not the kind of policies you want to claim on, it is important that they pay out when they are needed.
It is something people often ignore or don’t think about, but the latest figures from the Association of British Insurers puts this into perspective.
in 2018 alone the insurance industry in the United Kingdom paid out £5.3bn in protection claims.
These funds would be paying out to pay off mortgages, provide funds for bereaved families and provide income when the insured is unable to work due to accident or illness.
No one wants to be in those positions but the payout data shows that every year many families benefit from putting these policies in place.
