LV= pays 93% of IP and CI claims


LV= paid 93% of its income protection (IP) and critical illness (CI) claims in the year to the end of June.

The trend mirrors that of the full year for 2010 which showed CI claims paid had risen to 93% with IP hitting 92%. Non disclosure accounted for 1% of IP declined claims and 3% of CI claims, with the remainder rejected for not meeting the definition. A total of nearly £9m was paid out in CI claims and over £12m in IP claims. The data reveals that the average age of an IP claimant is 44 and a CI claimant is 47. It also showed that mental disorder was the most common reason for an IP claim (30%) and cancer the most common for CI (58%), while the average annual benefit for an IP was...

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