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 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 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:
Musculoskeletal conditions
Mental health
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.
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.
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.
And for more tips like this,
follow us on Instagram and LinkedIn.
No contact details required
years
€
OTP send successfully
Please enter your 4 digits OTP
Message send successfully
Please enter a valid email
Thank you for registering your interest. We are working on adding new products to our offering and will reach out to you once these are available.
We use cookies to enhance your browsing experience and analyse our traffic. By clicking “Accept”, you consent to the use of cookies in line with our Cookies Policy.