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Life insurance payouts total £202million for Coronavirus in 2020

Association of British Insurers (ABI) figures show equivalent of £553,000 per day was paid to support the families of the people who sadly died due to coronavirus in 2020.


According to the figures, there were 11,198 claims received. 10,205 of these were individual policies (whole life, term insurance and critical illness claims) with 993 were company (group) life insurance schemes.


Payouts included £250,000 paid just one day after notification of the death.


Yvonne Braun, the ABI's director of long-term savings and protection, said: "No one will have been affected by the pandemic more than the families of those who have tragically died due to Covid.

"While no amount of money can ever replace a life, insurers have and continue to do everything they possibly can to help families cope financially through these distressing and worrying times."


Figures obtained from the Association of British Insurers Coronavirus Information Hub 18 March 2021





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