Guardian have published its first annual claims report, in which it states it paid out over £15 million in claims during 2023.
The payments were split across 150 families and comprised of over £7.5m in life and terminal illness claims alongside £7.5m in critical illness (CI) and children’s critical illness claims.
The rate of payment for life and terminal illness was at 100% for the provider, with a 92% payout rate for CI and Children’s CI. The average amount paid varied by product, average payouts were: Life (£162,043); terminal illness (£168,727); CI (£90,102); and children’s CI (£20,907).
Katya MacLean, CEO, Guardian, said: “Publishing Guardian’s first claims report is a very special moment. It’s now been over five full years since we entered the protection market, and since day one our aim has been to design policies that provide certainty and support at claim.
“The fact that we’ve paid 100% of our life and terminal illness claims and 92% of our critical illness claims, shows that Guardian is doing what it set out to do – being there, paying claims, when our customers need us most. For us, claims are everything and we hope this report plays a role in providing confidence in our products and increasing trust in our industry.”
Click on the link to view Guardian’s Claims Report for 2023 – 2023-claims-report
As with all insurance policies, conditions and exclusions will apply