2019 claim figures for MetLife UK’s MultiProtect policy reached a record high.
MetLife UK paid on average 56 protection claims every working day in 2019.
The total paid in accident and health claims in 2019 was a record £11.1 million with 14,730 claims paid throughout the year – more than 28% higher than the previous year.
The Child Cover optional benefit, starting from an additional £1 per month, saw 31% of the total claims paid being for children and a total of 4,565 claims being paid for child accidents and illnesses. MetLife has also reported that the average time spent in hospital for insured children is five days.
There were 101 claims paid for the optional Active Lifestyle Cover averaging a claim paid every two and half days. Payments for complete tears of ligaments, ruptures to tendons and complete dislocations pay out up to £5,000 per injury. This covers one dislocation and one complete tendon rupture or complete ligament tear in each policy year. In order for the benefit to be paid, ligament tears must be confirmed by radiological imaging and dislocations and tendon ruptures need to have be treated by surgical intervention.
MetLife data also shows that 88% of all UK hospitalisation claims paid related to stays in hospital due to sickness, with adult claimants spending on average six days in hospital.
MetLife research among advisers shows 51% say clients are reluctant to buy individual protection because they are concerned about claims records, while 56% say clients do not believe the current range of products is relevant to their everyday lives.
Stuart Lewis, head of claims, MetLife UK, said: “After a year which has seen more claims than ever before within the Individual Protection business, one of the key factors that I’d like to recognise is the integral role that advisers often play in the customer experience at the claim stage.
“Many of our customers will turn to their adviser when they need the product to deliver something for them, particularly at the time of claim. I am proud of the partnerships we’ve developed with advisers and that together, we can continue to deliver on our promises and pay out when our customers need it most.”