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Reassured, the UK’s largest life insurance broker * , reported a 34% increase in benefit payments for life and critical illness claims in 2024 compared to the previous year.
The total amount paid out reached £67 million, up from £50 million in 2023, based on figures from the broker’s core insurer panel. The rise represents an additional £17 million in claims settled year-on-year. The company said the payments supported more than 2,500 families, with an average of over 200 payouts made each month.
The data covers claims paid across a range of policies arranged through Reassured, including life insurance and critical illness cover. These life insurance payouts are typically triggered by events such as the death of a policyholder or the diagnosis of a specified medical condition. Reassured works with a panel of major insurers and acts as a non-advised intermediary in the UK protection market.
Reassured chief executive Mark Townsend said the figures reflected the company’s function in supporting customers at key points in their lives. He attributed the volume of claims paid to the work carried out by staff and noted that each claim represented a significant event for the individual or their family.
Julie Godley, intermediary director for retail protection at Legal & General, said the volume of claims paid through Reassured highlighted the intermediary’s role in the wider protection market. Legal & General paid an average of 54 claims per month to Reassured customers in 2024, she said.
Reassured distributes protection products on behalf of several insurers, including Legal & General, Aviva, and LV=. Policies are offered through both telephone-based and digital channels, targeting individuals seeking life cover, critical illness protection, and related products.
The company has seen continued growth in its protection business in recent years, with a focus on increasing access to insurance through simplified processes and broader customer engagement. The latest claims data, the company said, reflects the scale of its operations and the level of customer need for financial protection during unforeseen events.
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