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L&G pays 91% of IP claims

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Legal & General paid 91 per cent of income protection claims and 93 per cent of critical illness claims during 2012.

The insurer, which has published its claims statistics today, also paid out 98 per cent of life cover claims last year.

It paid out a total of £483m for life cover and CI claims in 2012, but excluding IP. Life cover made up of £274m of the total payout, while CI accounted for £209m.

There were 5,815 life cover claims and 3,080 CI claims last year.

L&G declined 2.1 per cent of life cover claims and 6.9 per cent of CI claims. Of the rejected CI claims, 2.3 per cent were declined due to non-disclosure and 4.6 per cent due to a failure to meet policy definitions.

The insurer did not provide a breakdown of its IP claims statistics.

L&G retail protection underwriting and claims director Russell Whitworth says: “Our priority is to help people when they are at their most vulnerable and to pay as many claims as we can, as soon as we can.”

The data follow claims statistics published by Aviva earlier today. Aviva paid out on 94 per cent of individual IP claims, 93 per cent of CI claims, and 99 per cent of life insurance claims in 2012.

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