Legal and General (L&G) paid out £347 million in group protection claims last year, according to the provider’s latest claims data.
It said the total reflected that the business paid out almost £1m every day in 2024. The total figure was across group life assurance, group income protection and group critical illness cover. L&G also highlighted there had been a 20% increase in interactions with its prevention-focused health and wellbeing support services, providing assistance across all their group protection products, from 150,000 in 2023, to 188,000 in 2024. Group income protection L&G said it paid 3,542 group income protection claims in 2024, equating to nearly £87m. The average pay out per claim in 2024 was ...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- 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.
