LV= claims performance in 2019

94% of all new individual protection claims were paid in 2019 – totalling over £100 million

We paid 99% of life insurance claims¹, 88% of critical illness claims and 93% of income protection claims²

Protection summary 2019	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+
Total value of claims paid³	£23m	£14.2m	£2.8m	£359,642	£38.8m	£7m	£14.5m
Average lump sum paid/monthly benefit	£71,296	£7,033	£1,816	£7,193	£59,609	£103,420	£2,967
Highest lump sum paid/monthly benefit	£534,775	£104,609	£24,354	£25,675	£584,000	£560,000	£24,973
Policy in force duration	7 yrs 6 mths	7 yrs 5 mths	2 yr 8 mths	6 yrs 3 mths	9 yrs 5 mths	7 yrs 1 mth	8 yrs 1 mth

Average age of customer at claim	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+
Male	51	46	37	48	63	59	74
Female	47	45	39	47	63	55	74
Youngest customer	29	19	18	32	28	37	51

Early Payment

We have also introduced an early payment of up to £10,000 for death claims on most of our life products⁴ which can be paid within 24 hours. Find out more about the early payment here

Our Life Insurance figures include claims paid for our Life Insurance, Terminal illness, and whole of life products. Our whole of life products are no longer available.
Includes new claims admitted in 2019 and those already being paid before 1 January 2019 that continued to be paid in 2019, we paid 81% of new IP claims admitted in 2019.
Our Income Protection and Personal Sick Pay figures includes new claims admitted in 2019 and those already being paid before 1 January 2019 that we continued to pay in 2019.
Subject to fraud procedures, this covers death claims on Life products with the exception of policies written under pension rules and “Family Income Benefit” plans, decreasing term products, and policies written in trust. There are also a number of exceptions depending on the cause of death. More information about exceptions can be found here.