"After all, when it comes to protection, paying claims is what we’re all here to do."
- Justin Harper, Chief Marketing Officer at LifeSearch
LifeSearch’s panel paid 1,418 claims in 2024, totalling £105,070,803 – just over £2mn a week. The number of claims settled rose by 35% compared to 2023, which has led to an increase of £43mn+ (68%) year on year.
551 Life Insurance claims were paid, equating to £65mn, whilst a further £16.2mn was paid out to 131 Terminal Illness claimants. Furthermore, 471 (£23mn) Critical Illness (CI) claims were paid, £698,257 in ‘replacement income’ to 141 claimants, and 17 fracture or waiver of premiums claims were settled, totalling £59,016.
“Our claims statistics reaffirm the critical role of protection – through advice and online services – in providing financial security through life’s uncertainties. Behind every statistic is a real person, and for consumers and advisers, they serve as a powerful reminder that life is unpredictable,” explained Justin Harper, Chief Marketing Officer at LifeSearch.
He said: “Over 1.6k of our customers made claims last year. Most deal directly with their insurer, but our dedicated claims support team assisted over 400 customers in the last twelve months, guiding them from notification to the final decision. On a rare occasion where a claim was initially declined, perhaps unfairly, we have stepped in to appeal and successfully challenge those decisions to help our customers secure a positive outcome.
“At LifeSearch, we have long said that the product isn’t just the policy; it’s the claim, and we’re proud to have made such a financial and emotional difference to our customers when it mattered to them most. However, there is still room to improve the claims experience.
“It’s important for insurers to notify advisers when customers make claims, as collaboration with us and other distributors will be key to faster responses, more empathetic and practical evidence gathering, and quicker payouts. After all, when it comes to protection, paying claims is what we’re all here to do,” Justin concluded.
