Overview of Income Protection Claims during 2020

2020 was an unusual and difficult year for so many people. We are proud that we have been able to support over 3,300 employees during this challenging year when they needed it most, by providing Income Protection benefits when they were unable to work due to illness or injury.

A review of Irish Life’s data in our Overview of Income Protection Claims during 2020 shows that the main reasons for Income Protection claims were mental health problems, cancer and musculoskeletal issues.

The average annual benefit amount Irish Life paid out in 2020 was €23,325, and the biggest annual benefit last year was over €300,000. Income Protection benefits are directly linked to employees’ salaries. In 2020, Irish Life paid more than €123,000 each week to our Income Protection customers.

Income Protection claims for men and women varied; in 2020, the average age for men who claimed was 53 years, compared to an average age of 49 for women.

Thankfully many people were able to return to work last year and in that regard we would like to thank all the employers who worked with us helping over 500 people return to work during 2020.

Find out more

 Read our Overview of Income Protection Claims during 2020.

Source of all data: Irish Life.