LV= claims performance in 2016

94%

of all new individual protection claims were paid in 2016 – totalling almost £77 million*

We paid 100% of 50 plus claims, 98% of life insurance claims, 92% of critical illness claims and 90% of income protection claims [1] .

Protection summary 2016	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+	LifeTime+
Total value of claims paid	£21m	£14m	£3.6m	£1.1m	£26.6m	£6.5m	£12.3m	£2.1m
Average annual benefit/payment	£78,672	£14,695	£2,047	£11,739	£63,303	£108,486	£3,003	£33,497
Highest annual benefit/payment	£600,000	£220,958	£32,044	£48,917	£445,799	£550,000	£24,987	£500,000
Average age of policy in force at claim	6 yrs 8 mths	10 yrs 5 mths	9 mths	4 yrs 7 mths	8 yrs	6 yrs 7 mths	5 yrs 11 mths	8 yrs 3 mths
Average length of claim paid	n/a	7 yrs 7 mths	10 mths	4 mths	n/a	n/a	n/a	n/a

Ave. age customer at claim	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+	LifeTime+
Male	49	47	34	42	61	58	72	73
Female	49	44	37	45	61	57	72	73
Youngest customer	26	20	17	25	23	32	51	49

Early Payment

We have also introduced an early payment of up to £10,000 for death claims on all life products** which can be paid within 24 hours. Find out more about the early payment here

*This figure is rounded to the nearest whole number and is excluding any claims carrying over from 2015.

** Subject to fraud procedures, this covers all death claims on Life products with the exception of policies written under pension rules and “Family Income Benefit” plans.

[1] Includes FPP Income Protection only