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MetLife on track to pay record claims via MultiProtect

Insurer paid out £7.5m in the first nine months of 2019

MetLife UK is on track to pay record claims volumes through its MultiProtect policy. 

Claims paid in the first nine months of 2019 are already 92% of the total paid in 2018, when MetLife UK paid a protection claim every hour.

As of October, MetLife UK has paid 10,449 claims compared with around 11,400 for the whole of last year.

The total amount of claims paid for the first nine months of 2019 was £7.5m, putting it on track to beat the £8.6m paid out in the whole of 2018.

MultiProtect is an accident and hospital cover product which is designed to complement traditional protection policies.

Adults can receive payouts of up to £3,750 per major broken bone and a child cover benefit can be added on to cover all children from £1 extra per month. 

Richard Horner, head of individual protection at MetLife UK, said the growth in the volume and value of claims demonstrates the role that MultiProtect can play as part of a customer’s protection portfolio.

“The advisers that partner with MetLife to offer MultiProtect know that it’s the everyday risks that are often overlooked and the rise in claims shows the value of the policy,” he stated.