"These latest claim figures demonstrate the important financial reassurance that insurance offers and reinforce our commitment to being there for our customers when they need us most."
- Isobel Langton, CEO of The Exeter
Last year, The Exeter paid £17.7mn to Life Insurance, Income Protection (IP), and Terminal Illness claimants, as well as £41.8mn in Private Medical Insurance (PMI) claims.
The mutual approved 90% of new PMI claims; the most common cause of claims was musculoskeletal and connective tissue disorders. Most declined claims were made during the policy’s moratorium period.
93% (1,091) of new IP claims were paid in 2024, supporting over 1k claimants and their families. For its ‘Income First’ IP proposition, the average age of claimants was 38, with the average claim lasting 76 weeks for full-term and 75 weeks for limited benefit IP plans.
The most common cause of IP claims was musculoskeletal, followed by mental health, and hip or knee conditions.
The Exeter paid 100% of Life Insurance and Terminal Illness claims, equating to £5.2mn. The average age of customers at the time of claim was 57 years old for Life Insurance and 56 for Terminal Illness.
“Nobody wants to be in a position where they need to make an insurance claim – especially when it’s due to ill-health, injury, or the loss of a loved one. These latest claim figures demonstrate the important financial reassurance that insurance offers and reinforce our commitment to being there for our customers when they need us most,” said Isobel Langton, CEO of The Exeter.
