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Protection insurer reports 2 in 5 claims are for broken bones

15 August 2019

MetLife UK reports claims paid in the first three months of 2019 rose by 25% and the value of claims paid rose by 28%, with two out of five claims paid during the quarter from customers or their children suffering broken bones.

The protection insurer says this underlines the demand for protection policies which cover everyday risks.

Total claims paid in the first three months rose to 3,216 compared with 2,577 for the same period in 2018; while the value of claims paid increased to £2.411 million from £1.885 million.

MetLife UK says its MultiProtect policy is the only stand-alone policy specifically covering broken bones. Typically, fracture cover on offer in the market is an add-on to traditional income, life or critical illness protection policies.

Richard Horner, head of Individual Protection, MetLife UK said: “The fact that around two-fifths of claims are for broken bones suffered by customers or their children highlights how advisers are supporting their clients by offering cover that meets their needs at a time when they need financial help.”

MultiProtect offers cover for between £8 and £40 a month and does not require medical underwriting, with customers being able to get covered in under 4 minutes.  Families can add optional cover for children up to the age of 23 if in full-time education from £1 extra per month and if both parents select the cover they can protect children twice.

It also offers complementary access 24/7 to a Wellbeing Support Centre, providing emotional and practical support.

The provider says the MultiProtect product includes cover for a range of accidental injuries, such as broken bones and for UK hospital stays. Maximum payouts are up to £250 a day for UK hospital stays; £3,750 for broken bones;  £250,000 for total permanent disability; and £200,000 for accidental death. Customers can take out a policy from age 18 up to their 60th birthday and cover will continue until they reach 70.