• A myth dispelled - The truth about life insurance pay outs!

    There is a myth surrounding life insurance - the myth being that insurers don't pay out. But figures suggest this simply isn't true:

    Latest figures from the Association of British Insurers (ABI) show that every day in 2011 insurers paid out £6.7 million to individuals and families who had made claims on life, critical illness and income protection policies.

    In 2011:

    • The average pay-out on a life insurance policy was £46,000, two and a half times the average annual take-home salary, and 97% of life insurance claims were paid.

    • The average pay-out on a critical illness policy was £59,000 with 92% of claims being paid (up from 80% in 2005).

    • The average claim in 2011 on income protection (IP) policies was for £14,000 annually, paying out on average for 260 weeks (five years) to help those unable to work.

    Premiums can start from £0.20p per day.....get your quote today.

    info obtained from http://www.insurancedaily.co.uk/2012/12/20/uk-insurers-pay-out-6-7m-a-day-on-protection-policies/

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