By The Premium Hunter, Feb 28 2013 3:13PM
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.
• 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.
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