The image above is the latest set of stats .... from just one insurance company. 
This is Legal and General's 2021 claims statistics. 
When I am told by prospective clients that they aren't confident about taking out life cover because insurance companies "don't pay out", I am frustrated at this myth (usually daily rag media driven without basis) because - as we can all very clearly see from the image providing factual claims statistics - insurance companies do pay out. 
Granted, if an applicant lies on the application form, or deliberately witholds information, doesn't disclose all of the facts or doesn't pay the premiums, then of course the insurance won't pay out. But as long as you pay your premiums for a policy that you have put in place which has been accepted based on all facts disclosed and fully underwritten, a legitimate claim will pay the crucially required insurance proceeds to the right people at the right time. 
To highlight some of the key 'pay out' data from the above, in just 2021; 
£478.6 MILLION in death claims 
£209 MILLION for critical illness claims 
youngest death claimaint 23 YEARS OLD 
40 YEARS OLD was the average age for an income protection claimant 
65.8% of all CRITICAL ILLNESS claims was for cancer 
and sadly 144 CHILDRENS CRITICAL ILLNESS claims were made too 
Other statistical insights from the fuller report which we have received also includes COVID related claims in 2021, as follows; 
£73 MILLION paid out where Covid-19 was an attributing factor 
the youngest claimant was 31 YEARS OLD 
35% FEMALE / 65% MALE gender split 
And to cap it all off, when considering whether insurance companies pay out or not, Legal and General have also disclosed in their report that over the last 5 years they have actually paid out .......... £3.5 BILLION in claims. 
Other insurance companies also have similar stats for 2021 as well. This is both very sad, and also very reassuring. 
So, why do we recommend life insurance? 
Because there is a NEED for life insurance. And there is a need for Critical Illness cover. And a need for salary / wage protection. 
Why is there a need? Because without that immediate receipt of an appropriate lump sum payment, or an ongoing regular income (in the event that you lose the ability to work and earn money due to a serious ill health situation) the surviving family (or business) may have to; 
sell the family home to pay off the mortgage - consequences include a massive downsizing, change area, upheavals re schools, friends, families, as well as loss of 'roof over the head' security 
change / lose job if you're the surviving parent and need to now be at home to care for your children 
fund medical expenses or home adaptations 
for businesses - stress of keeping the business going without you at the helm, repaying creditors, banks losing confidence and withdrawing facilities, losing key people which hugely impacts on profits 
..... and so many other high risk reasons too 
We recommend life insurance (in all it's guises) because we are financial advisers. We don't flog products, we look at your situation, and we will propose the most suitable, appropriate and flexible arrangements that suit you and your budget. And then we will review this with you on an ongoing basis. 
Our job is to bring this to your attention. We don't charge for our insurance services. You can choose how to proceed. It is entirely down to you whether you implement all, some, or none of our recommendations. It's your choice, your life, your family, your business. 
But if you haven't stepped back and looked at what you really do need in place to cover you and your family and business, and you think that a review is right for you at this time, we would be more than pleased to provide that professional support. Our team of advisers is here right now to help you. 
For a full insurance review, at no cost, and with all recommendations provided in writing for you, just contact us now by sending us your details via the enquiry form below, and we will call you back (also at our cost) and help you to help yourself, your family, your business, to provide your own financial security. 
Did this all come across as a bit of a rant? I hope so. Nobody has enough life insurance. Some people don't have any. Many policies that we review are out of date and are no longer fit for purpose.  
Let's correct this situation for you right now. 
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H D Consultants. Contact details here Live Chat webpage here Broker Log In / BrokerCentre here 
Head Office address; 109 Maldon Road, Colchester, Essex CO3 3AX (Administration Centre only) 
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We normally charge a Professional Client Fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £500. The actual Professional Fee may be more or less than this, and is subject to a full Fact Find discussion and research process. H D Consultants is a trading name of Howard Reuben who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.. Registered Office: Preston House, 163 High Street, Crowthorne, Berkshire, RG45 7AF. Registered in England & Wales. Company Registration Number 4952586. This site is for UK Consumers only. Website Terms and Conditions click here for our Privacy Policy. GDPR Privacy Policy - click here (PDF download / view) This site contains third party links. By clicking these links you will depart from the H D Consultants' regulated site. H D Consultants nor PRIMIS Mortgage Network is responsible for the accuracy of the information contained within the linked site. The Financial Conduct Authority does not regulate some of the services listed. H D Consultants, mortgage and life insurance advisers, is authorised by the FCA no 403701. Our in house Wills and Trusts Practice is a long standing Member of the Society of Will Writers and Estate Planning Practitioners.  
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