Income protection insurance statistics

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We love statistics here at Bobatoo.co.uk, and to help you make more sense of income protection insurance and how it helps people like you we’ve complied all of our favourite income protection-based stats below.

To find out more about income protection, read our useful income protection buying guideincome protection FAQs and income protection jargon buster.

Income protection stats

350 – The number of income protection pay-outs sanctioned every day here in the UK, which prove invaluable to families across the country.

29,000,000 – The estimated amount of protection, term and whole life income protection policies said to be in operation as of 2012.

320,000 – The headcount of employees in the insurance industry as a whole in Britain.

40 – The percentage (equivalent to 4 in 10) income protection insurance applications which have A) never commenced or B) no longer in force after the first 12 months has lapsed.

3 – The position in the grand global scheme of things enjoyed by the UK, in acknowledgement of us being recognized as the third largest in the world.

[one-half]

1 – The number which represents the top of the pile of European insurance industries, and most notably where the Britain finds itself here and now.

19 – The age of the youngest policyholder to have drawn on their existing critical illness insurance plan in recent years.

38 – The misguided percentage of income protection insurance claims which the general public readily believe is paid out each year. Which is in stark contrast to the plus-90% reality of the matter.


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318,000,000 – (Pounds Sterling) The total of annualised benefits paid out in 2013 in terms of group income protection insurance policies in this country.

66 – The worrying percentage of British citizens who DON’T have any financial support in place to provide back-up/contingency plans to look after a sick child if they themselves could no longer work as a result of serious injury/illness or redundancy, according to one leading income protection insurance provider.

1 in 5 – The accepted odds of being side-lined from your normal employment for more than 3 months, as arrived at by a UK income protection insurer.

1,200 – The number of people polled by one leading British income protection insurance provider in 2014 who HADN’T arranged cover for this insurance product, who when asked why one third of respondents were quoted to have said because they thought it was ‘too expensive’.

50 – (Pounds Sterling, per month) The average financial figure that people in the UK are willing to spend on an income protection insurance policy, as discovered by a study carried out by Protection Review.

60 – The approximate percentage of income protection insurance claims that subsequently follow accidents, mental disorders or musculoskeletal complaints, of which most would not be covered by critical illness cover.

20 – The percentage of British men who died before their 60th birthday according to figures from (who else but) the Office of National Statistics, as of 2010. A figure which was halved (10%) in relation to the same female demographic. That said, thousands of Brits under the age of 60-years are also diagnosed with a critical illness year on year, whilst even greater numbers are involved in accidents which compromise their ability to work thereafter.

8,400,000 – (Pounds Sterling) The amount that UK income protection insurance policy providers stump up every day in claim settlements.

60 – The percentage portion of income protection insurance premium calculated to be directly related to the underwriting risk.

72 – According to one leading UK income protection insurer, this relates to the percentage of people who fervently believe there are circumstances where it’s perfectly acceptable practice to stretch the truth (or indeed, tell a fib) when it comes to non-disclosure of insurance information.

40 – The percentage of Financial Ombudsman Service (FOS) complaints received and upheld by the impartial conciliatory body in relation to income protection insurance policies for the year 2012.

11,500 – (Pounds Sterling) Represents the average claim settled for individual income protection insurance as of 2013, according to the Association of British Insurers (ABI).

230 – The number of weeks (the equivalent of some 4 years plus) the above-mentioned was paid out to those income protection insurance policyholders unable to work.

51,500 – (Pounds Sterling) Is the average income protection insurance policy pay-out, according to the ABI.

98.4 – The percentage of income protection insurance claims being paid.

1,300,000,000 (Billion) – Total income protection insurance claim payments in 2013.

10,300 – Whole life insurance (type of income protection insurance policy) average claim recompense figure.

99.9 – Percentage-wise the total paid out on whole of life income protection claims for 2013, according to the ABI.

449,000,000 – (Pounds Sterling) Total paid out with regards to whole of life income protection insurance for 2013.