LV= IP and CI claims paid dip slightly


LV= has announced it paid 91% of income protection (IP) and 88% of critical illness (CI) claims in 2011.

The figures are slightly below those from 2010 (when it paid 92% and 93% respectively) and the first six months of the year. Overall the provider paid 95% of protection claims, with this figure being boosted by a 100% record for life insurance claims. The insurer is also planning to announce the details of its new CI offering in the coming weeks. In total it paid out over £12m in IP claims (up 3% on 2010) with less than 2% rejected due to non disclosure. The average age of a claimant was 45 while mental disorders (31%) proved the most common reason for claim. And the average ...

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