Legal & General pays over £1bn in retail protection claims in 2024

In 2024, Legal & General (L&G) accepted 20,903 claims across its Life Insurance, Terminal Illness, Critical Illness (CI), Income Protection (IP), and children’s cover products. 

Related topics:  Legal & General,  claims
Tabitha Lambie | Editor, Protection Reporter
15th May 2025
Claims
"Our focus is on delivering the best outcomes for our customers during what is often one of the most challenging periods of their lives."
- David Banks, director of claims & underwriting for retail protection at L&G

Last year, Legal & General (L&G) paid 20,903 retail protection claims – 2,207 more claims than in 2023. Overall, the provider paid over £1bn to support policyholders and their loved ones during bereavement, lost income, and critical illness. 

L&G paid 97% of life claims, equating to £583mn across 14,067 accepted claims. 32.8% of claims were triggered by a recent cancer diagnosis, followed by heart-related conditions (20.7%), and neurological conditions (6.1%). At point of claim, the average age of claimants was 70 - the youngest person whose life policy paid out was 20 years old. 

Furthermore, 93% (1,309) of terminal illness claims were paid, equating to £162mn. The maximum payout was £1,056,873, but, on average, policyholders were paid £124,025. Cancer (92.4%) was the most common cause of claims, with neurological and respiratory-related conditions representing 3.7% and 1% of claims, respectively.

L&G paid 4,202 (93%) CI claims, equating to £303mn. 63.4% of claims were triggered by a recent cancer diagnosis, followed by heart-related conditions (12.8%), and stroke (7.4%). At point of claim, the average age of claimants was 49 - the youngest person whose CI policy paid out was 22 years old.

84% of IP claims (new and existing) were paid in 2024, equating to £7.9mn across 797 accepted claims. The maximum payout was £11,666pcm, but, on average, policyholders were paid £730pcm. Musculoskeletal conditions (38.8%) were the most common cause of claims, with cancer and anxiety/depression representing 14.1% and 7.9% of claims, respectively.

Lastly, L&G paid 200 (97%) children’s cover claims, equating to £3.8mn. 46.5% of claims were triggered by a recent cancer diagnosis, followed by child funeral benefit (13.5%), and diabetes (7%). At point of claim, the average age of claimants was 8 years old. 

“We’re committed to enhancing the experience for our customers by refining every stage of the claims journey. We’ve invested in our people and processes to make continual improvements to our claims philosophy, service, and processes. Digital claims, for example, have already made a positive impact, and we expect this to continue. 

“Our focus is on delivering the best outcomes for our customers during what is often one of the most challenging periods of their lives. By continually improving our processes and investing in technology, we aim to create a smoother, faster, and more transparent system that alleviates stress, pays claims as quickly as possible, and provides peace of mind,” said David Banks, director of claims & underwriting for retail protection at L&G. 

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