MetLife UK has reported it’s on track for a record year in terms of protection pay outs, with total protection claims in the first three months of the year rising by 25%.
Total claims paid in the first three months rose to 3,216 compared with 2,577 for the same period in 2018; while the value of claims paid increased by 28% to £2.411m from £1.885m.
Richard Horner, head of individual protection, MetLife UK said: “The record rise in volume and value of claims, shows that MultiProtect is playing an increasingly important role in covering customers for everyday risks and widening the options for advisers.”
Claims paid in April and May this year topped more than 2,220 and were valued at nearly £1.6m. The total paid in claims in 2018 was 22% higher than the previous year.
Around two out of five claims paid during the quarter were from customers or their children suffering broken bones.
Horner added: “The fact that around two-fifths of claims are for broken bones suffered by customers or their children highlights how advisers are supporting their clients by offering cover that meets their needs at a time when they need financial help.”