Firm paid almost 100% of group life claims last year
L&G paid 2,614 group protection claims in 2017, a total of £284m, which represents almost 18% of industry total for group protection claims in 2017, according to GRiD claims data. Almost 100% (99.58%) of group life claims were paid last year, a total of £206m paid out, with the average claim worth over £123,000. Over £9m was paid in group critical illness claims in 2017; the average claim was almost £62,000. Almost £51m of new group income protection claims were settled, as part of an overall...
Three key reasons why
Due to challenges obtaining medical evidence
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Benefits being used to support employees