Customers believe protection policies don’t cover them for everyday risks

Michael Lloyd

June 14, 2019

Customers are missing out on protection because they believe individual protection policies do not cover everyday risks, MetLife UK has found.

Nearly two out of five (39%) adults do not believe individual protection policies will pay out for everyday risks such as broken bones.

Richard Horner, head of individual protection, MetLife UK said: “There is a clear need for policies which cover fractures. The risk of breaking bones is unfortunately a real one for many, with around 600,000 reported each year.

“Fractures can have a major impact on everyday life, so it makes sense to have affordable cover which pays out and enables people to concentrate on getting better without having to worry about their finances.

“Advisers are the key to helping customers find products that meet their needs.”

Around 56% of MetLife’s broken bones claims last year were for adults, while 44% were for children. MetLife paid out a record £8.6m of 11,428 claims in total to customers with an individual policy.

It is estimated that more than 600,000 people suffer broken bones each year and researchers believe that boys have a 30% chance of breaking a bone before the age of 18, while girls have a nearly one in five (19%) chance.

Furthermore, research shows that 66% of boys and 40% of girls will sustain a fracture before their 15th birthday.


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