Are you doing enough to protect your family?
Why it’s more important than ever to get the right insurance cover in case you fall ill.
2 min read
Last year, 99% of UK insurance claims relating to protection areas such as critical illness and life insurance were paid – yet time-poor people may still not have the cover they need.
UK insurers paid out a record-breaking £5 billion in protection-related claims in 2017, according to the Association of British Insurers. The industry also supported a record number of families and helped 5,000 people back to work after a period of sick leave.
This shows the extent to which protection insurance can successfully safeguard you and your family. It’s worth making absolutely sure you have the right level of cover in place.
Maya Prabhu, Head of Wealth Advisory Services says, “Life insurance has long been considered the cornerstone of financial advice. Most people tend to go for life cover because it’s the cheapest option, but experience shows that people are much more likely to claim under critical illness policies than life insurance – so it’s important to consider all the cover options available to protect your family.”
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Virtually all protection-related insurance claims in the UK were paid last year yet some people may still not have adequate cover. Coutts could help by working with its panel of insurance providers to give you peace of mind in case things go wrong.
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