"Legal & General is committed to paying as many claims as possible to our valued customers, and we’re proud to have provided increased financial support for a record number of people at their time of need over the last year"
According to the figures, this represents an additional £85.76m in total claims paid when compared with 2021 data, bringing the total amount paid out to customers to £3.8bn over the last five years.
17,768 claims were paid across Legal & General’s protection product offerings, supporting people and their families financially through difficult periods of lost income, critically poor health or bereavement.
Changes in claims
Covid-19, previously number three on the list of reasons for people claiming life insurance has fallen to number six. Cancer, heart and neurological conditions were the most common claim causes for life insurance. L&G's data shows that the average income protection claimant was 39 years old, highlighting the importance of having protection at any age.
Wellbeing Support Services
For all new policies bought via an intermediary, customers have access to additional support through Umbrella Benefits, a package of value-added services and optional benefits that customers can access on a regular basis to supplement their NHS support.
These include personalised practical and emotional telephone support from a registered nurse who can help with chronic and physical illness, trauma, relationship breakdowns and care concerns.
Private Diagnostics (giving quick access to specialist consultants) and Fracture Cover are also available at an additional cost (excluding Business Protection and Whole of Life Protection Policies).
The use of these wellbeing support services has doubled since 2021. The bespoke benefits of Wellbeing Support are offered as standard throughout the life of the policy and for six months after a claim has been made, making tailored practical and emotional support for physical and mental health conditions readily available.
David Banks, Director of Claims and Underwriting, Legal & General Retail, said:
“Legal & General is committed to paying as many claims as possible to our valued customers, and we’re proud to have provided increased financial support for a record number of people at their time of need over the last year. This demonstrates the value of protection and the need for coverage across people’s lives.
“While the financial support we offer to individuals and their families when they face a sudden loss of income is critical, we’re incredibly proud of the additional wellbeing services we’ve provided for our customers. Protection goes far beyond paying claims, and we continue to put the ongoing emotional and physical health of our customers first through enhancing our extensive umbrella benefits.”