Legal & General has recorded total pay outs for claims across individual life insurance, income protection and critical illness of £883 million last year, up 5% from 2021 totals.
The insurer stated it paid out an average of £2.4m claims each day, covering a total of 17,768 claims across life insurance, income protection and critical/terminal illness products throughout 2022. Following a request for further information from COVER, L&G detailed that it paid out a total of £509m across 12,571 life insurance claims last year. For terminal illness claims, pay outs reached £141m across 1,116 claims. L&G detailed that cancer (34%), heart (21%) and neurological (6%) conditions were the most common claim causes for life insurance, while claims for Covid-19 fell from th...
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