LV= pay 95% of protection claims in 2012
Protection specialist LV= paid out 95% of underwritten protection claims in 2012.
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The most common claims paid under critical illness were for cancer (65%) and heart attack or heart related conditions (18%). For income protection the greatest number of claims were for musculoskeletal conditions (20%) and mental illness (19%). More than two thirds (70%) of all claimants were under the age of 55 at the time of claim.
Mark Jones, LV= Head of Protection said:
"Protection claims statistics continue to be strong across the industry, and highlight that the overwhelming majority of claims are paid. We paid out almost £50 million in protection claims to our customers during 2012, offering an invaluable benefit to people at an extremely difficult time."
