MetLife Pays Out a Record £11m on Accident/Sickness Claims

MetLife UK’s innovative MultiProtect policy continues to provide value for money for customers as 2019 claim figures hit a record high, new data shows. MetLife UK paid on average 56 protection claims every working day in 2019.

The total paid in accident and health claims in 2019 was a record £11.1 million with 14,730 claims paid throughout the year – more than 28% higher than the previous year. MultiProtect’s accident and hospital cover product, which complements traditional protection policies, enables individuals and families to access affordable and flexible financial protection that covers everyday risks.

The affordable Child Cover optional benefit, starting from an additional £1 per month, continues to provide important cover for children with 31% of the total claims paid being for children and a total of 4,565 claims being paid for child accidents and illnesses. MetLife have also reported that the average time spent in hospital for insured children is five days.

Adults living active lifestyles have also benefitted from the policy with 101 claims paid for the optional Active Lifestyle Cover averaging a claim paid every two and half days. Payments for complete tears of ligaments, ruptures to tendons and complete dislocations pay out up to £5,000 per injury. This covers one dislocation and one complete tendon rupture or complete ligament tear in each policy year. In order for the benefit to be paid, ligament tears must be confirmed by radiological imaging and dislocations and tendon ruptures need to have be treated by surgical intervention.

MetLife data also shows that 88% of all UK hospitalisation claims paid related to stays in hospital due to sickness, with adult claimants spending on average six days in hospital.

MetLife research among advisers shows more than half (51%) say clients are reluctant to buy individual protection because they are concerned about claims records, while 56% say clients do not believe the current range of products is relevant to their everyday lives.

Stuart Lewis, Head of Claims, MetLife UK said: “After a year which has seen more claims than ever before within the Individual Protection business, one of the key factors that I’d like to recognise is the integral role that advisers often play in the customer experience at the claim stage. Many of our customers will turn to their adviser when they need the product to deliver something for them, particularly at the time of claim. I am proud of the partnerships we’ve developed with advisers and that together, we can continue to deliver on our promises and pay out when our customers need it most.”

MetLife’s MultiProtect policy is currently the only stand-alone policy which, alongside a variety of benefits, specifically covers broken bones including some fractures and chips to bones. Child Cover can be added for just £1 a month per adult insured and covers all children in a household, up to the age of 23 and in full-time education. If both parents select the cover they can protect children twice.

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.

It is not just financial help – customers also have complementary access 24/7 to the Wellbeing Support Centre which provides emotional and practical support.

MetLife’s MultiProtect is available through selected strategic adviser partners in the UK. If you are interested in finding out more, please visit metlife.co.uk/multiprotect

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