LV= claims performance in 2018

94%

of all new individual protection claims were paid in 2018 – totalling over £84.6 million

We paid 95% of life insurance claims¹, 89% of critical illness claims and 95% of income protection claims²

Protection summary 2018	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+
Total value of claims paid	£24.8m	£14.3	£3.5m	£155,883	£32.6m	£8.1m	£14.3m
Average lump sum paid/monthly benefit³	£78,334	£1,221	£872	£1527	£56,659	£99,256	£3,602
Highest lump sum paid/monthly benefit³	£502,079	£8,333	£4,000	£4405	£675,000	£900,000	£24,991
Policy in force duration	6 yrs 8 mths	9 yrs 1 mth	1 yr 11 mths	4 yrs 11 mths	9 yrs 2 mth	7 yrs 2 mths	7 yrs 2 mths

Ave. age customer at claim	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+
Male	50	48	37	45	63	59	58
Female	47	44	38	44	63	53	63
Youngest customer	25	22	19	29	24	29	48

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 both our Life Insurance and Lifetime+ products. Our Lifetime+ product is no longer available.
Includes new claims admitted in 2018 and those already being paid before 1 January 2018 that continued to be paid in 2018, we paid 87% IP for new claims admitted in 2018.
The figures for Income Protection and Personal Sick Pay are based on a monthly benefit.
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.