LV= uses cookies to give you the best experience online and to provide anonymised, aggregated site usage data. You can find out what cookies we use and how you can disable them in our Cookie Policy. By continuing to use our website, you agree to our use of cookies in accordance with our cookie policy unless you have disabled them.

skip to main content

Catch up with the latest press releases from LV=

Large green heart

Another Year of Improved Claims Performance for LV=

Press release: 13/03/2009

Protection specialist LV= today published its 2008 protection claims record, showing an increase on 2007, with 91% of claims paid across its income protection policies and 87% across its critical illness policies last year. This represents overall increases of 5% and 1% respectively from 2007.

LV= paid out more than £45.9m to its protection policyholders last year, including £12.1m in income protection claims, and £8.4m in critical illness claims.

Chris McFarlane, LV= Head of Protection comments: “Our latest figures show that the proportion of accepted claims has increased. This is largely due to the investment we have made in our tele-interviewing capability, together with an increased number of proportionate claims being paid, in line with the new ABI Code of Conduct.”

2008 protection claims data from LV= reveals that:

  • The top three causes of income protection claims over the last 12 months were mental disorders (30%), musculoskeletal disorders (19%) and circulatory system disorders (11%).

  • The average age of a female income protection claimant was 44 years, with male claimants, on average, three years older at 47 years.

  • Income protection claims lasted for an average of seven years.

  • Cancer claims accounted for more than half (57%) of all critical illness claims, falling from 69% in 2007.

  • In 2008 critical illness policyholders received an average claims payment of £63,820.

LV= has produced two guides detailing its income protection and critical illness claims performance for 2008. These guides are designed for financial advisers to use with their clients to help them understand why it is important to disclose full information when they apply, and also demonstrate the ‘more than a cheque’ benefits from LV=, which include the Extra Care claim support service and free access to the valuable online health assessment and advice service ‘Healthy Steps’.

Matt Morris, Head of Protection Strategy at Lifesearch comments: “LV= is one of the few protection providers who has been consistently transparent by publishing their claims statistics. Not only that, by producing in-depth guides for financial advisers to use with their clients, they are directly helping advisers and consumers to understand the context behind the statistics, the importance of disclosure, and what is expected of them during the application procedure. This in turn significantly reduces the risk of client confusion or misunderstanding when making their application, which is the biggest cause of complication at point of claim. LV= really are providing some ‘good news stories’ for the protection industry which improve consumer trust, and that is the ultimate goal for all of us involved in the protection industry.”

Detailed in the guides are examples of claims LV= has paid out during 2008, bringing to life actual customer scenarios and showing the benefits they are receiving from their protection policies:

Example Income Protection claims

Age at claim


Cause of claim

Current monthly benefit

Number of months we have been paying the claim

Total amount paid out so far is more than



Back pain





Engineering Officer

Chronic Fatigue Syndrome (CFS)






Multiple Sclerosis (MS)





Financial Adviser

Ruptured Achilles tendon




Correct as at 31 December 2008.

Example Critical Illness claims

Age at claim

Cause of claim



Aortal valve replacement



Benign brain tumour






Cancer of right kidney


Correct as at 31 December 2008.

Chris McFarlane continues: “Protection is becoming increasingly important, both to advisers and consumers, with a growing awareness particularly around the importance of income protection. Through our free Critical Illness offer, where anyone taking out an income protection (IP) policy under the LV= Flexible Protection Plan will receive three times the monthly income protection benefit as critical illness cover, and our Income Protection toolkit, we are demonstrating our ongoing commitment to advisers to help them increase their protection sales. This will ensure more people are able to manage financially if they are unable to work because of an illness, accident or unemployment.”

For further information and a copy of the 2008 Critical Illness and Income Protection Claims guides advisers can visit .


LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a trading style of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

LV= employs around 3,400 people, serves around 3.5 million customers and members, and manages around £7 billion on their behalf. We are also the UK’s largest friendly society (Association of Friendly Societies Key Statistics 2008, Total Net Assets) and a leading mutual financial services provider.

Liverpool Victoria Friendly Society Limited is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register No. 110035. LVFS is a member of the ABI, AMI, AFS and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.