Pioneer pay 94% of income protection claims in 2009

The UK-based income protection insurer, Pioneer, released their claims paid statistics for 2009. It was reported that 94% of claims were paid last year. In the market Pioneer has a reputation for having one of the highest payout ratios in the industry.

Claims data

Health & Protection Insurance Magazine have begun to compile claims paid statistics for income protection which shed a very positive light on Pioneer's payout rates, having paid out on 98.1% of claims made in 2008.

It is hoped that all leading insurers will release their claims paid statistics each year, thus providing consumer confidence in the quality of the insurance product provided. According to the latest data reported, of those insurers who currently release their claims statistics (seven thus far) not one insurer has paid out on less than 90% of claims made (in either 2008 or 2009).

On face value the claims paid statistics look broadly similar, if not slightly better, than those for critical illness insurance. Members of the Association of British Insurers (ABI) have recently agreed industry wide standards for measuring claims paid accurately so hopefully more income protection insurers will begin to release their annual figures, which is a move that many have agreed to do.

About income protection

Income protection insurance is a product designed specifically to protect individuals against the risk of income loss due to long-term sickness or injury. With limited government support available, income protection cover provides a solid method of maintaining financial security should incapacity strike.

Drewberry Income Protection are a specialist whole of market insurance intermediary focussed on providing the very best protection advice and broking services.

Update (04/04/2012): Please note that Pioneer changed it's name to Exeter Family Friendly Income Protection in 2011.

I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.

Brendan Kelly
26/09/2019
Compare Top 10 UK Insurers
Takes approx. 60 seconds
  • £

Or call us on 0208 432 7333

Compare Top UK Insurer Quotes Logos
Contact Us
Head Office & Pensions and Investments
Millennium Bridge House
2 Lambeth Hill
London
EC4V 4GG
Personal Insurance & Accounts Payable
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Drewberry London Office MapDrewberry Brighton Office Map
Our Core Principles
  • 1You Come FirstWe are a client focused business who always aim to put you first.
  • 2We are ExpertsTo provide you with the best advice, we need to know our stuff!
  • 3We are HumanWe are real people with feelings who are here to help you.
  • 4We are ProfessionalProviding a 5-star service requires a professional approach to everything we do.
  • 5We are here to EducateWe don't believe in sales, we are here to educate so you can make informed decisions.
Cookie Use

Drewberry™ uses cookies to offer you the best experience online. By continuing to use our website you agree to the use of cookies. If you would like to know more about cookies and how to manage them please view our privacycookie policy.