LV equals 86% Claims Paid

LV= 86% Claims Paid

Liverpool Victoria (LV=) has published its 2007 protection claims record, revealing that 86 per cent of claims were paid across its income protection and critical illness policies, compared with 2006, when around 86 per cent of claims were paid for income protection and 81 per cent for critical illness protection.  Overall, more than £54.9m was paid out to protection policyholders last year.

Head of protection at LV= Chris McFarlane, said “We are please that we have seen an improvement in our claims record, a lot of work has been out into developing ways to help financial advisers and their clients with policy applications and claims.  

Our view

Choosing a sickness insurance or critical illness plan is not just about being the cheapest, you need advice as it is also about the smallprint.

Any provider that goes public with claims payment figures has to be applauded.  There are still many that do not publish their figures.  We wonder why?

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