Only a quarter of UK households have life insurance, yet protection providers pay out more than £9m every day in financial support to families to help them cope with illness, injury or the death of a loved one.
New statistics from the Association of British Insurers showed that UK insurers pay out the equivalent of £77m total insurance claims every day.
Of this figure, £9m is paid from protection policies such as critical illness, income protection and life insurance, £7m to help private health insurance customers receive medical treatment, £9m to business customers in commercial liability claims, such as employers’ liability and £9m in accident and health claims. Read more at FT Adviser