The total payouts for Covid-related group life policies during the first half of the year exceed the total from 2020.
Dependants of employees with insured employer-sponsored death benefits have received more financial payouts as a result of Covid-19 in the first half of 2021 than in the whole of 2020, according to Group Risk Development (GRiD). The industry trade body found that payouts for Covid-19-related claims stood at £125.7m for H1 2021 for group life benefits, compared to £93m for 2020. The average lump-sum payment was over £98,112 during the six-month period. GRiD stated that 18% of all group life claims paid by insurers during H1 2021 were related to Covid-19, which was in line with figur...
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