LV= introduces early payment on death claims

clock • 2 min read

LV= has introduced an early payment of up to £10,000 for death claims on all life products which can be paid to bereaved families within 24 hours.

This will be automatically offered to all claimants who qualify to help ease the initial financial burden on families during a difficult and emotional time. The early payment was introduced in support of work carried out by the Protection Distributors Group on its Funeral Pledge. It covers all death claims on life products with the exception of policies written under pension rules and "Family Income Benefit" plans. Justin Harper, head of protection policy at LV= said: "LV= understands that the point at which someone will look to make a claim on their life insurance is likely to be ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

AFM members pay out £70m on IP claims in 2023

AFM members pay out £70m on IP claims in 2023

Claims for musculoskeletal continue to rise

Jaskeet Briah
clock 17 April 2024 • 2 min read
Claims pay outs rise 25% for Reassured's customers

Claims pay outs rise 25% for Reassured's customers

MetLife paid out to 692 customers

Jaskeet Briah
clock 17 April 2024 • 1 min read
Guardian joins Mortgage Advice Bureau's protection panel

Guardian joins Mortgage Advice Bureau's protection panel

"This partnership will add more value to the advice and products we offer"

Jaskeet Briah
clock 17 April 2024 • 1 min read