June, 2014

Record Claims Paid in 2013

Claims payments were up 13.7% year on year For the first time in its history, the Australian life insurance industry has paid out more than $5 billion in claims in a single year. According to the latest Claims Paid Statistics report, claims payments were up 13.7% year on year, for the period ending December 2013. Despite one additional insurer participating in the research this year, the figures still well exceeded those reported in 2012. Total lump sum claims paid increased by 15.6%, and income protection claims by 8.3%. Another notable statistic in the report was the increase in TPD claims […]

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