Holloway Friendly paid out 96.9% of all claims received during 2008. The 3.1% not paid were mainly for gross medical non disclosure and changes to the policy holder circumstances such as being in retirement or attempting to claim during a deferment period.
Muscolo-skeletal and back problem claims accounted for 33.5% of the total followed by stress related claims amounting to 16.9%.
The Society has released claims information every year since 2003 and has consistently paid out on an average of over 96% of all claims received.
Holloway Friendly’s David Macgregor says "The Society has worked very hard to achieve these figures which must rank amongst the highest in the industry. Income protection is only as good as the first claim and this is a very reassuring message to present to both existing and prospective members alike. As we have just launched an innovative income protection plan it is very important to have an outstanding claims record to underpin the strong contract terms".
Income protection: News update: 20/03/2009