Insurers paid £2bn in life and CI claims in 2010


Critical illness (CI) and life insurance claims payments reached almost £2bn last year, according to figures published by the Association of British Insurers (ABI).

Insurers paid out £1.9bn in 2010 - up from £1.8bn the previous year - with £1.14bn coming through life insurance and £776m from CI. However, while the total payout rose from 2009, the rate and value of CI claims paid dipped slightly last year. Whereas some £776m was paid out in 2010, the value of payouts in 2009 was almost 5% higher at £813m. The total value of CI claims in 2008 was £829m. The ABI said it believed the decline was due to customers cancelling their policies because of tighter household budgets. Meanwhile, one in ten (10.1% of 1,248 claims) of CI claims were declin...

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