LV= claims performance in 2017

94%

of all new individual protection claims were paid in 2017 – totalling over £87 million

We paid 95% of life insurance claims, 88% of critical illness claims and 96% of income protection claims*

Protection summary 2017	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+	LifeTime+
Total value of claims paid	£20.8m	£12.8m	£3.0m	£511,804	£27.5m	£6.8m	£13.1m	£2.1m
Average annual benefit/payment	£77,228	£14,234	£2,126	£8,675	£60,887	£91,781	£3,102	£38,838
Highest annual benefit/payment	£765,375	£146,441	£29,868	£37,742	£2,616,000	£450,000	£25,000	£1,250,000
Policy in force duration	7 yrs 0 mths	8 yrs 1 mth	1 yr 4 mths	3 yrs 7 mths	9 yrs 0 mths	6 yrs 4 mths	6 yrs 5 mths	8 yrs 11 mths

Ave. age customer at claim	Critical Illness	Income Protection	Personal Sick Pay	Unemployment	Life	Terminal Illness	50+	LifeTime+
Male	52	48	35	45	63	60	73	73
Female	47	45	38	45	63	56	72	72
Youngest customer	24	22	20	30	25	34	51	51

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

*includes new claims admitted in 2017 and those already being paid before 1 January 2017 that continued to be paid in 2017, we paid 88% IP for new claims admitted in 2017.

** 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.