Claims Performance
We're proud of the proportion of claims we accept, but, we’re not content to rest on our laurels. There's more great work to be done to provide more certainty for advisers and customers.
We’re delighted to share our protection claims statistics with you. But although numbers are important, it’s the people behind them who really count…
Our income protection and critical illness claims performance guides have been designed for you to share with your clients and contain full details our claims statistics, cause of claims together with some real life examples.
Click on the headings below to view our claims statistics highlights.
Total amount of claims paid out | £7,902,487 |
Average payout per policyholder | £72,500 |
Average age of female claimant at claim | 46 |
Average age of male claimant at claim | 49 |
Claims paid | 90% |
Reasons for Decline | |
Non–disclosure | 3% |
Not meeting the claim definition | 7% |
LV= Critical Illness claims causes
Example Critical Illness claims paid in 2009
Age | Gender | Cause | Amount |
|---|---|---|---|
34 | F | Multiple Sclerosis | £105,000 |
42 | M | Brain Tumour | £71,475 |
44 | F | Heart Attack | £85,896 |
52 | M | Parkinson's Disease | £26,557 |
46 | F | Breast Cancer | £111,679 |
65 | M | Prostate Cancer | £127,588 |
42 | F | Malignant Melanoma | £73,630 |
48 | M | Stroke | £117,287 |
Total amount of claims paid out | £11,909,585 |
Average annual benefit | £11,740 |
Average length of claim per policy (for policies in force during 2008) | 8 years |
Average age of female claimant at claim | 44 |
Average age of male claimant at claim | 46 |
Claims paid | 90% |
Reasons for Decline | |
Non-disclosure | 3% |
Not meeting the claim definition | 7% |
LV= Income Protection claims paid causes
Example Income Protection claims paid during 2009
Age at claim | Gender | Occupation | Cause of claim | When we started paying the claim | Current Monthly benefit | Total amount paid so far |
|---|---|---|---|---|---|---|
27 | F | Nurse | Back pain | 26/03/1987 | £1,052 | £287,196 |
35 | M | Hairdresser | Multiple Sclerosis | 15/09/1996 | £926 | £147,234 |
38 | F | Accountant | Depression | 16/08/2002 | £1,520 | £133,760 |
40 | M | General Manager | Brain tumour | 11/04/1990 | £2,881 | £679,916 |
41 | F | Solicitor | Post viral fatigue syndrome | 13/09/2004 | £3,063 | £192,969 |
45 | F | Training consultant | Stroke | 02/04/2003 | £1,599 | £127,920 |
45 | M | Vet | Asthma | 02/07/2001 | £2,212 | £223,412 |
46 | F | Bank Official | Whiplash | 18/07/1998 | £541 | £74,117 |
50 | M | Plasterer | Painful wrist with reduced movement | 15/02/2003 | £813 | £66,666 |
52 | M | Account Manager | Leg injury | 13/05/2002 | £1,852 | £168,532 |