LV= paid out 94% of all new individual protection claims during 2016 totalling close to £77 million over the year - more than it has paid in any other year.
The mutual paid 100% of 50 Plus claims, 98% of life insurance claims, 92% of critical illness claims and 90% of income protection claims. In total, LV= paid out almost 7,000 claims over the year, around 2,000 more than the year before. The highest claim paid in the year was £600,000 for a critical illness claimant. The most common conditions for critical illness claims were cancer (65%), heart related conditions (13%) and strokes (7%), while the most common claims for income protection...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.