Royal London pays 99.1% of 2017 protection claims

Nearly £175m was paid in life and terminal illness claims, which amounted to 97.3% of term life insurance claims paid, with an average of nearly £113,000 per claim. For terminal illness, 92.3% of claims were paid with an average pay-out of just over £129,000 per claim. More than £128m was paid in whole of life claims (99.9%) and the average pay-out just over £4,000. Over £200m was paid in critical illness claims - 91.2% of claims were paid, 2% were declined due to misrepresentation and 6.8% did not meet the policy definition. The average pay-out was nearly £108,000. Cancer was the top...