"Claims will always represent the foundation of our business, affording essential peace of mind. And we’re proud to report today’s claim outcomes."
- Vanessa Sallows, group protection claims & governance director at L&G Retail
Last year, Legal & General (L&G) paid 5,168 (£347mn) in claims across its Group Life Assurance, Group Income Protection (GIP), and Group Critical Illness (GCI) product range.
The provider paid 3,542 GIP claims, with nearly £87mn in benefits paid - on average, £24,544 was paid per claim. More than 4,226 employees accessed L&G’s vocational rehabilitation services, and almost 600 assessments or treatments were provided by its multidisciplinary partners specialising in psychiatry, physiotherapy, pain & fatigue, cancer, and neurological.
The most common cause of claims was cancer, with 306 claimants and an average payout of £29,731. 31% of individuals absent due to cancer successfully returned to work within the deferred period, and 36% within the first twelve months of absence.
175 claims related to mental health, with an average payout of £22,575. L&G supported 89% of individuals to return to work within the deferred period, and 91% within the first year of absence.
For GCI, L&G paid £28mn to 326 claimants, with an average payout of £85,745. Of this figure, £358,750 was paid for claims on children’s cover. Moreover, £232mn was paid to Life Assurance claimants; the average life payout was £180,835.
“Our GIP prevention, early intervention, and vocational rehabilitation support services, underpinned by our biopsychosocial approach, are delivering outstanding outcomes to people and businesses.
“We expect our value proposition for GIP to grow even further. This is because we’ve started working direct to client, post-sale and with the intermediary’s permission. The goal is to help employers ensure prevention services are understood and used,” explained Vanessa Sallows, group protection claims & governance director at L&G Retail (pictured).
She said: “Claims will always represent the foundation of our business, affording essential peace of mind. And we’re proud to report today’s claim outcomes. But, when it comes to GIP, the proposition has evolved in line with employer, employee, and societal needs.
“It’s about early intervention, proactive claims management, care pathways, vocational rehabilitation, and a return to work, where possible. It’s up to us (as an entire industry) to embrace and demonstrate this,” Vanessa concluded.
