Zurich has announced it paid out 91% of new group income protection (GIP) claims in 2017 - with average annual benefits of £26k. During the same period, 99% of group life claims were paid by the insurer.
Nearly half (46%) of all GIP claims fitted into the lower income bracket of under £25k and mental illness was the trigger of 28% of claims, followed by 26% for cancer and 14% for musculoskeletal claims. Rehabilitation Around half of absences notified didn't progress to claim stage because employees recovered and returned to work before the end of the policy's deffered period. Forty percent of these did so thanks to rehabilation services offered by the insurer. The firm has also reported that over 60% of those who returned to work before the end of the deferred period as a result of...
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