Life insurance fraud levels 'low'

Compare tariffs and switch energy supplier in minutes

Compare energy deals and switch supplier to cut your energy bills by £447* a year - start saving money in a matter of minutes!

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

The level of fraud within the life insurance market is "very low", according to the Association of British Insurers (ABI).

Jonathan French, the body's spokesperson, said that companies in the sector have a number of systems in place to minimise fraud and added that careful checks are in place to spot fraudulent activity.

According to recent research by the ABI, 40 per cent of households in the UK have life insurance, while in 2006 the UK insurance industry paid out £17 million a day in death benefits.

Speaking about the findings, Mr French said: "Life insurance companies have a number of checks and balances in place to minimise fraud and there are very low levels of fraud in the life insurance arena."

"Insurance companies will carry out careful checks where it is appropriate to make sure fraudulent activity does not slip through the net."

The ABI is a trade body established to protect the interests of the UK's insurance industry, representing around 400 companies across England, Scotland, Wales and Ireland.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more