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Cover Magazine - Group life Covid-related payouts total £125.7m for H1 2021

The total payouts for Covid-related group life policies during the first half of the year exceed the total from 2020.

Dependants of employees with insured employer-sponsored death benefits have received more financial payouts as a result of Covid-19 in the first half of 2021 than in the whole of 2020, according to Group Risk Development (GRiD).

The industry trade body found that payouts for Covid-19-related claims stood at £125.7m for H1 2021 for group life benefits, compared to £93m for 2020.

The average lump-sum payment was over £98,112 during the six-month period.

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