Many consumers have struggled to claim on policies such as wedding and travel insurance as a result of the Covid 19 pandemic, no similar issues have been reported in the life insurance industry.
In fact, data from the Association of British Insurers (ABI) shows that during the height of the COVID-19 crisis, insurers received 7,000 life insurance claims and paid out £90 million – the equivalent of £980,000 every day – to support the families of those who died due to coronavirus.
