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Help Centre»»Does life insurance pay out?

Does life insurance pay out?

Have you heard that life insurance doesn’t pay out? It’s a common misconception but it simply is not true.

In fact, figures from the Association of British Insurers (ABI) show that 98% of protection insurance claims were paid in 2021.

Life insurance has one of the highest payout rates in the insurance industry. The ABI collects industry payout data, and product specific payout data, publishing these on their website.

The main reason a policy would not payout is due to non-disclosure or lying on an insurance application. This is why it is important to be completely open and truthful when applying for life insurance.

A phone-based broker such as Protect Line will help you consider all the relevant medical questions to help reduce the chances of misleading the insurer or forgetting to mention something important.

All help centre articles are designed to help give generic information to UK consumers. Protect Line operates on a non-advised basis, so no help centre article should be considered as advice or an indication of the terms and conditions of your policy. Insurers also update their terms and conditions from time to time and while Protect Line endeavours to keep all information up to date, there is a chance the information on these pages may become outdated. All information is correct at the time of publication. To ensure you fully understand the terms and conditions of your policy please read all your documents and contact us for clarification if there is something you do not understand.

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