The insurance and long term savings has made a donation of £7m to mental health charities Rethink and Mind to help provide 3.5m people with mental health support during and post the pandemic.
The money will go towards community-based mental health care and support and will be administered by Rethink Mental Illness and Mind.
The money has been raised by the industry’s Covid-19 Support Fund set up by providers with ABI backing.
The UK insurance and long-term savings industry launched the Covid-19 Support Fund to help support people hardest hit by the Covid-19 crisis. The fund has raised £104m, with £83.9m pledged in voluntary contributions from firms within the sector and £20m provided by government-matched funding.
Research from Rethink Mental Illness found that 79% of people living with mental illness said their health had deteriorated due to the pandemic.
A survey by Mind of 16,000 people showed that