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Keeping you updated on our approach to paying claims and stories to demonstrate the true value of your recommendations.

We want to pay claims and be there for your client when it matters. In 2016 we paid, on average, 9 out of every 10 claims.

Claims

LV= Protection Pays

June 2017

2016 claims figures at a glance

  • We paid more than 9 in 10 of all claims.
  • Supported 7,000 families during a time of financial and emotional hardship.
  • Paid out £77m – more than we’ve ever paid.
  • £17.6m paid in IP claims* – providing much needed financial support to 2,400 families.

Why LV=?

Moneywise Customer Service Awards 2016 Most Trusted Insurer 2017

Advisers have named us number one protection provider for claims fairness[1]. Customers have also voted LV= the UK’s Most Trusted Insurer[2]. It goes without saying a valid claim should always be paid. But we go further - and are committed to treating your clients with humanity and care. We’re really proud this is recognised outside of LV=, which is testament to the passion, commitment and efforts of our claims team.

Customer feedback

Many thanks for your letter to my father and subsequent call. My father has asked me to express his gratitude for your empathy and kindness in speaking to him, especially when he became so emotional when you delivered the good news regarding the successful claim. My family can't thank you enough.

Mr P, Income Protection customer

Early payments on death claims

Quicker financial support for bereaved families

Families dealing with bereavement can find themselves faced with unexpected costs, not to mention coping with the devastating loss of a loved one.

To support your client’s family during a bereavement, we’ll offer an optional £10,000 early payment (or pay a smaller amount if they prefer) on eligible life insurance policies. We’ll make the process as easy as possible by asking just a few basic questions - and will aim to pay the money within 24 hours.

Our early payment on death supports the Protection Distributors Group's 'Funeral Payment Pledge’, which called for insurers to offer better financial support to bereaved families. If families opt for the LV= early payment, they can choose how they spend the money - we won’t insist it’s only used to cover funeral expenses.

Visit our claims section for more information on our early payments for death claims.

Income Protection changes: more opportunities to claim

We updated our traditional income protection product in January to protect clients against more eventualities:

The new features have increased the opportunities for clients to claim and offer more tangible and relevant add-ons for your recommendations.

Specialist rehab support

Available to Income Protection and Personal Sick Pay customers

Helping our income protection customers back to work supports their wellbeing and sense of purpose. Our rehabilitation advisers make sure customers claiming get all the support they need. This could be through giving them access to medical specialists, working through a return to work plan or supporting them into a different career. Knowing they are not alone often inspires customers back into work and society sooner.

I’m in my third week back on full duties after my operation. The graded return to work plan you arranged worked perfectly. You also kept me on a level pathway. Without your support I would have been off work for twelve months, rather than seven months

Mr W, Income Protection customer.

Rehab case study: career redirection

Mr C is a Personal Sick Pay customer, was 35 when he took out his policy and worked as a hod carrier (a physical role which involves a lot of heavy lifting). Mr C injured his elbow in 2015 and is unlikely to work in his original job again.

Whilst paying Mr C’s claim, we funded an electrician course (including overnight accommodation), helping him get the skills and qualifications needed to change career. After Mr C had completed his course, we also bought the tools he needed to pursue his new career. And we’ve been helping him find potential employers – who will include a van as part of his remuneration. If Mr C decides to go self-employed, we’ll continue assisting his return to work and consider paying for his own rental van.

Although not every customer who claims will be able to go back to work in the future, we continue to look at ways to support those who can – improving their wellbeing and morale.

Claims are more than just numbers at LV=. Protection Pays is our regular bulletin you can use with clients to bring to life the support available at claim – and why protection is so important.

Download our client-facing version of Protection Pays which you can share with clients to support your protection recommendations.


  • NMG is an independent, representative research initiative where 182 advisers are asked to rate providers across their full propositions, including product design, financial security, underwriting and claims. All mainstream protection providers are included in the research.
  • Voted for by customers at the 2016 Moneywise Customer Service Awards.

* this figure includes Personal Sick Pay

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LV=, County Gates, Bournemouth, BH1 2NF, UK