Aviva Pays Nearly £1 Billion in Protection Claims in 2019

Aviva reveals it paid £983 million in protection claims in 2019. In total, it paid out out on 96.3% of all claims it received last year.

aviva

Aviva Policyholders Receive £982m in Protection Payouts

Aviva has just revealed its 2019 claims data, which show that the major UK insurer paid:

In total, these payouts were worth £981,997,431.

Aviva’s Life Insurance Claims in Figures…

Aviva Life Insurance paid 98.6% of all Life and Terminal Illness Insurance claims it received in 2019, paying out £582 million in total.

Aviva paid out on 16,363 Life Insurance policies in the 12 months to December 2019.

Aviva’s Critical Illness Cover Claims in Figures…

Aviva paid out on 4,957 policies for critical illnesses, children’s critical illnesses and total permanent disability in 2019. In total, these claims amounted to £353 million.

44% of all adult Critical Illness Insurance claims were made by policyholders who were diagnosed with a critical illness before the age of 50.

Cancer was the most common condition claimed for across all ages, standing at 66% of claims, rising to 79% amongst women. Meanwhile, heart attack claims followed as the second most common reason at 11% of all claims (rising to 21% amongst men).

Aviva’s Income Protection Claims in Figures…

Aviva Income Protection policies paid out £44 million last year to a total of 4,007 policyholders last year. This included 1,189 brand new claims in the course of 2019 (the rest were ongoing claims from previous years).

85.7% of all new claims were accepted.

The average age of a policyholder starting a new Income Protection claim in 2019 was 43, with musculoskeletal conditions being the most common cause of new claims (29%), followed by mental health claims at 22%.

On top of Income Protection claims, Aviva also paid out almost £3 million to 1,185 to clients who had added fracture cover to their policies and who sustained a fracture during 2019.

Tom Conner Director at Drewberry
Tom Conner
Director at Drewberry

“It’s excellent to see Aviva publish its claims statistics. As is expected from the UK’s largest insurer, Aviva paid out close to £1 billion in claims in 2019, making it the foremost insurer in the marketplace when it comes to the value of claims paid.

“Clearly, Aviva is one of the major insurers supporting UK policyholders and / or their families through a very difficult time in their lives.”

I had a great experience with Drewberry, they have a lot of knowledge and expertise with life insurance and income protection and were able to advise me and arrange suitable products. Highly recommend.

Lachlan Mellings
12/08/2020
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