LV= Insurance Revealed Its IP and CI Payouts
Written on 30 Aug, 2011 at 05:54 by Ulyana Chernyak
LV= said it paid out 93% of all insurance claims associated with critical illness and income protection. As such, the company paid 9 and 12 million pounds in the 12 months to June 2011.
According to LV=, only 3% of critical illness and 1% of income protection were rejected due to non-disclosure.
Commenting on the findings, Mark Jones of LV= Insurance, said that the "high percentage of paid claims illustrates our firm commitment to supporting people in difficult times."
He also highlighted that LV= is one of the few British protection providers that reveal its IP claims data. He said that the company publishes its “CI and IP claim statistics so that advisers and consumers are aware of why claims can be rejected in order to keep declined claims to a minimum.”
The detailed report is available on the official website of Liverpool Victoria=.
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