This was a 40% rise on the year before.
Guardian paid 100% of life claims for the second year running, and 94% of terminal illness claims were paid out. Some 56% of the terminal illness claims were under the insurer’s enhanced definition, which it said would not have met the industry standard.
Further, 92% of critical illness claims were paid, and 81% of these were for the ‘big four’ conditions: cancer, heart attack, stroke and multiple sclerosis.
Guardian also paid out all children’s critical illness claims.
During the year, 13 claims were rejected by the insurer.
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Carlton Hood, CEO of Guardian, said: “I’m extremely proud to publish our second claims report and to share how many families Guardian has helped during 2024. I’m particularly impressed when Guardian has had the courage to think differently, and to challenge established practice in order to do things better. As this report shows, it means customer outcomes are better when it matters most.
“I look forward to working with peers and colleagues across the industry, to continue to push the boundaries and innovate, for the benefit of all those who are touched by what we do.”
Jenny Binns, claims specialist manager at Guardian, added: “What’s good about working in the claims team at Guardian is that our innovations help us better help our customers when they need us most. When policyholders or their families claim, they’re often sad, stressed, overwhelmed and vulnerable.
“They need our help. It’s not just about the money; it’s about the whole process of claiming for it as well as the support they receive.”
