Swans

Scottish Widows Pays 98.2% of Protection Claims in 2019

Boat
27/04/2020

Insurer Scottish Widows has revealed its 2019 claims data — it paid more than £212m in Life Insurance and Critical Illness Cover claims, paying out on 99.4% of Life Insurance claims and 93% of Critical Illness Insurance claims.

scottish widows

Scottish Widows Pays £212m in Life and Critical Illness Claims

Scottish Widows has released its claims data for the 12 months to December 2019, with the insurer’s figures showing that it paid:

Scottish Widows Life Insurance Claims in Figures…

Scottish Widows Life Insurance paid 99.4% of all Life Insurance claims it received in 2019 for a total financial payout of £128.1 million, with £13.4 million paid in terminal illness claims.

The average payout on a Scottish Widows Life Insurance policy was £42,843, while the highest individual claim totalled £566,616.

55% of all claims from women were as a result of death from cancer, compared to 41% of claims from men. Meanwhile, cardiac-related deaths accounted for 19% of claims among men compared to 9% for women.

Scottish Widows Critical Illness Claims in Figures…

Scottish Widows paid 93% of Critical Illness Insurance claims last year, paying out £84 million in total.

The average claim paid on such a policy stands at £50,181, with the highest individual claim being £501,189.

Among women, the major reasons for a Critical Illness Insurance claim were:

  • Cancer (74%)
  • Stroke (7%)
  • Heart attack (4%)
  • Multiple sclerosis (4%).

For men, the main causes of claims were:

  • Cancer (53%)
  • Heart attack (19%)
  • Stroke (10%).

Tom Conner Director at Drewberry
Tom Conner
Director at Drewberry

“Scottish Widows paid nearly all Life Insurance claims it received last year, declining just 0.6% of all claims it received. That should give clients peace of mind that Scottish Widows is an insurer that will be there for them and their loved ones when they need it the most.

“It’s interesting to see statistics broken down by sex. Women were more likely to suffer from cancer and claim on a Critical Illness Insurance policy and even sadly pass away from the disease, whereas for men cardiac-related claims accounted for far more critical illness claims and deaths compared to women.

“Overall, this is a great set of claims performance data from Scottish Widows, cementing its position as one of the leading providers of Life Insurance in the UK.”

Compare Top 10 UK Insurers

Takes approx. 60 seconds
  • £
Verified by Norton Symantec icon
 Or Call Us

Contact Us

Head Office & Pensions and Investments
Senator House
85 Queen Victoria Street
London
EC4V 4AB
Personal Insurance & Accounts Payable
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Drewberry London Office MapDrewberry Brighton Office Map

If you are unhappy with our service, we have a complaints procedure, details of which are available upon request. If you are unhappy with how your complaint has been dealt with, you may be able to refer your complaint to the Financial Ombudsman Service (FOS). The FOS website is www.financial-ombudsman.org.uk.

Drewberry Ltd is registered in England and Wales. Companies House No. 06675912

Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

Drewberry Ltd (Financial Conduct Authority No. 505473) is an Appointed Representative of Quilter Wealth Limited and Quilter Mortgage Planning

Limited, which are authorised and regulated by the Financial Conduct Authority.

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.