Life - Articles - Friends Life pays out over £248 million in claims

 Friends Life has released its individual protection claim statistics for 2013 including the figures for life cover, critical illness claims and income protection.

 The figures demonstrate how Friends Life has financially protected its customers during 2013, paying out in total over £248 million, equating to £1 million paid per working day.

 Friends Life paid £111 million in life cover claims during 2013 - 99% of all claims made, helping the families of almost 3,500 customers.

 Overall, £116 million was paid in critical illness claims by Friends Life last year - 91% of all claims made. The top four illnesses claimed for were cancer, heart attack, stroke and multiple sclerosis with 70% of all claims being cancer-related.

 85% of Income Protection claims were paid totalling £21 million with average payout of £840 per month. Customers suffering mental illness or musculoskeletal disabilities made up around half of all claims.

 Commenting on the figures, Chris Pollard, Head of Underwriting, Claims and Operations for Friends Life Individual Protection, said:

 “Last year we were able to help more than seven thousand of our customers and their families when they needed it most. We are proud to help our customers in times of need and distress, paying out £1m every working day.

 “Our focus at Friends Life is on the customer, their family and representatives. We are continuing to improve our handling of every claim, including finding ways to speed up the claim process and providing customers with all the support they need.”