News

VitalityLife paid 99% of Life claims, 93% of Serious Illness claims and 94% of Income Protection claims in 2016. In total, 807 claims were paid across all products.

LV= has introduced an early payment of up to £10,000 for death claims on all life products which can be paid to bereaved families within 24 hours.

British Friendly has appointed Julie Greenwood as distribution director.

The Exeter has entered the life insurance market with a policy for people with type 2 diabetes or a high body mass index (BMI).

MPs discussed the effectiveness of group income protection during a debate in parliament this week focussing on 'Long-term Health Problems and Work Outcomes'

Labelled a ‘stealth tax’

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.

Gen Re has reported sales increases for most protection policies with income protection showing the strongest levels of growth while guaranteed whole of life plans have struggled.

Vitality is launching a major marketing campaign that sees employees starring alongside Vitality Ambassadors Jessica Ennis-Hill, Maro Itoje, Joe Root, Ellie Simmonds and Stanley the Dachshund.

Holloway Friendly has called for the protection industry to agree and adopt a standard approach to publishing claims statistics.