Income protection specialist Holloway Friendly paid 98% of claims excluding non-disclosures in 2020.
The society revealed it supported 697 members and their families by paying out £3.4m in benefit – £1m more than in 2019.
The mutual’s most common reason for a claim was accident and injury (27%) followed by musculoskeletal (19%) and mental health (10%).
Its average age of claimant was 41, average annual claim payment was £11,000 and average length of claim was 44 weeks.
Eighty three claims could not be paid due to either no loss of income, plan criteria not being met, claims being for an excluded condition and non disclosure.
Suzy Esson, director of operations at the society, said: “We’re incredibly proud to have been able to help so many members in such a difficult year, and this shows our commitment to keeping our members lives colourful.
“Being worried about finances when you can’t work because you’re too sick or have been injured can be a dark time.”
CEO Stuart Tragheim added: “Figures like these give our members and others looking to buy income protection confidence in their purchases. Knowing they’ll be helped when they really need it.
“We’ve never been about just paying a claim. We truly want to help our members and their families as if they were our own. This is why we have introduced so much additional support for members before, during and after a claim.”
