Let’s face it — nobody wants to think about life insurance or income protection. But the numbers from Royal London’s latest claims report show exactly why more people should.
In 2024, Royal London Ireland paid out over €57 million in protection claims — helping real people through life’s hardest moments. And here’s the key stat: 98% of all claims were paid.
That’s money going directly to families, partners, and individuals during incredibly difficult times.
Here’s what stood out — and what it means for anyone thinking about cover.
🛡 Life Insurance: €45.2 Million Paid Out
Life Insurance is the one policy designed to make sure your loved ones are financially secure if the worst happens — and it remains the most commonly claimed benefit.
🔹 €540,000 – The largest claim paid
🔹 €229,950 – The average payout for terminal illness
🔹 57 – Average age of claimants
🔹 46% of life insurance claims were due to cancer
Behind each claim was someone who planned ahead, and had cover in place when it mattered most.
💼 Income Protection: A Lifeline for Long-Term Illness
Income protection is still one of the most underused types of cover — but these figures show just how powerful it can be.
🔹 €11.8 million paid in income protection claims
🔹 Longest claim lasted 9 years — with over €300,000 paid out
🔹 Average claimant age: 49 — youngest was just 28
Top reasons for claims:
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Musculoskeletal conditions
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Mental health
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Cancer
We insure our homes, our pets, often even our phones. But we don’t always think to insure the very thing that makes all of those possible — our income.
📊 Why These Stats Matter
Every one of these claims tells a story. The person who took out cover didn’t know they’d need it. But when life changed, their policy stepped in.
Without cover, a diagnosis or injury doesn’t just bring stress — it brings financial pressure too.
With cover in place, there’s breathing room, support and stability.
🔍 Where Do We Come In?
Royal London is just one of several top-tier insurers we compare — and we help you access the same policies, for less.
At Beat the Bank, we match you with the best value from across the market for:
✅ Life Insurance
✅ Mortgage Protection
✅ Income Protection
No fluff, no hard sell — just the best cover for your needs, at the best price.
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