Why Reviewing Your Protection Policies is Important
According to the Association of British Insurers (ABI):
• Insurers paid out £8 billion in protection claims in 2024
• 98% of life insurance claims were paid
• 84% of income protection claims were paid
• The average critical illness claim was over £68,000
Claims are being paid. But here’s the issue:
• Many people don’t have the right level of cover when they need it.
Meanwhile:
• 1 in 4 people will experience a mental health issue each year (Mind UK)
• Around 1 in 2 people will be diagnosed with cancer in their lifetime (Cancer Research UK)
• The average household would struggle after just a few months without income (MoneyHelper data)
Protection works. But only if it’s set up properly, and kept up to date.
