LV= pays out almost £137m in 2024

The provider said that it paid out to almost 8,000 claimants, paying at a rate of 95% of all individual protection claims, including those already in payment, for life insurance, critical illness (CI) and income protection (IP). LV= paid out £18.2m in IP claims to over 1,100 individuals, £33m was paid in CI claims to 429 claimants and £80m to more than 5,200 families across life insurance policies. It also detailed its claims for personal sick pay protection, in which it paid £4m to more than 1,000 individuals. For its children's claims, £774,000 was paid across 39 claims. The top ...