The Exeter paid out over £71m to members across its health insurance, income protection (IP) and life insurance products last year.
This was up 16% from £61m in 2024, which was driven mostly by private medical insurance (PMI) claims which rose sharply in value.
PMI
The mutual paid £51.9m in health insurance claims over the year up by £10.1m or 24% from £41.8m in the previous year.
However, members made more than 16,500 new claims, on par with the 16,700 claims submitted in 2024.
Musculoskeletal and connective tissue disorders and claims related to cancer were the most common reasons for claim.
Income protection
According to the data, 93% of new IP claims were paid in 2025, the same rate as in 2024, with 1,140 claims paid – an increase of 4.5%.
In total £14m was paid across all income protection claims – a 12% rise from 2024.
The average age of an income protection claimant on its Income First Product was 37, with claim durations typically lasting 74 weeks for a full-term policy and 70 weeks for a limited benefit policy.
Among ongoing claims is one member who has received continuous support from an IP policy for more than 28 years.
The insurer said this was a powerful example of the long-term financial security that the product can offer.
Life
In 2025, 95% of life insurance claims were paid totalling more than £5.2m, with The Exeter also paying over £150,000 in terminal illness claims.
This compared with all of life claims paid in 2024 when the mutual paid out £5.2m in life insurance and terminal illness claims.
The average age of members at claim for life insurance was 58, and 53 for terminal illness. This compared with 57 for life insurance and 56 for terminal illness in 2024.
Continued investment
Suzy Esson, chief operating officer at The Exeter said: “Behind every claim is a real person facing a difficult time in their life, whether it is injury, illness or loss of a loved one.
“The claims paid out in 2025 highlight not only the commitment we have to our members, but the important role advisers play in recommending insurance products for their clients.
“We continue to invest in modern technology to support efficient, high‑quality claims handling, but technology is only part of the picture.
“We also invest heavily in developing skilled, experienced claims handlers who are trusted to use their judgement, understand each member’s circumstances and provide the right level of support throughout the claims journey.
“Together, this enables us to deliver a claims service that is responsive, personal and focused on achieving positive outcomes for our members.”
