Legal & General paid out £638 million in individual protection claims in 2018

The equivalent of £1.7m every day

clock • 1 min read

Legal & General has revealed it paid out more than £638m on individual protection claims in 2018, the equivalent of £1.7m every day.

The FTSE 100 insurer paid 97% of all life claims in 2018, which equates to £332.7m across 10,046 claims. The three main claim conditions were cancer (38%), cardiovascular disease (18%) and pneumonia (7%), with an average customer payout of £34,279. It also paid out £107.3m across 1,023 terminal illness (TIC) claims in 2018, representing 97% of all TIC claims. The majority were caused by a cancer diagnosis (93%) and the average customer payout was £107,901. The equivalent of eight claims a day, 93% of critical illness (CIC) claims, were paid out in 2018 by Legal & General. The insurer ...

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