Working Paper 203 was published in August 2025. This paper describes claim inception and termination experience of individual income protection policies for the period 2021 to 2023.
For the first time in a CMI income protection experience report, analysis is included by policy duration and commencement year. Analysis by the typical factors for income protection is also included: sex, occupation class, deferred period, age, calendar year and smoker status.
The analyses compare the experience relative to that expected based on the IP11 claim inception and termination rates. The claim inception rates have been adjusted to allow for data issues identified in the graduation dataset – see Working Paper 149 for more information.
We have also published a spreadsheet that includes the values used in the charts in the working paper.
Note: This paper and the spreadsheets are available to Authorised Users only.
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