UK insurer The Exeter paid out £61m in claims across its health, income protection and life insurance products in 2024, according to its latest claims statistics.
The mutual, which supports members during illness or injury, revealed it paid £41.8m in health insurance claims and £17.7m in income protection and life insurance claims, including terminal illness.
The Exeter paid 90% of all new private health insurance claims last year. The most common reason for claiming was musculoskeletal and connective tissue disorders, while the main reason for declined claims was submitting during the moratorium period.
A total of 1,091 income protection claims were paid, with The Exeter accepting 93% of all new claims. Musculoskeletal conditions topped the list of reasons, followed by mental health issues and hip/knee conditions.
For its flagship Income First product, the average age of claimants was 38. Claims lasted an average of 76 weeks for full-term policies and 75 weeks for limited benefit terms.
The Exeter paid all life insurance and terminal illness claims submitted in 2024, totalling £5.2m. The average age of claimants was 57 for life insurance and 56 for terminal illness.
Chief executive Isobel Langton said: “No one wants to be in a position where they need to make an insurance claim – especially when the claim is due to ill health, injury, or the loss of a loved one.
“Our latest claims figures highlight the valuable peace of mind that insurance can provide and also reflects our ongoing commitment to supporting our members when they most need us.”
Founded in 1888, The Exeter is a mutual friendly society owned by its members and specialises in health and protection products.
