Research has revealed Liverpool Victoria’s (LV’s) claims report for the whole of 2019, which states some incredible figures for its policy claim paid as follows:
- 99% of Life Insurance claims
- 88% of Critical Illness Insurance claims.
- 93% of Income Protection claims
Liverpool Victoria Life Insurance Claims in Figures…
Liverpool Victoria paid 99% of all Life Insurance claims it received in 2019, paying out £38.8 million in total. The median payout on an LV Life Insurance policy was £59,609; with the highest payout of about £584,000. The youngest claimant was just 28 years old when he sadly passed away.
Liverpool Victoria Critical Illness Cover Claims in Figures…
Liverpool Victoria paid £23 million in Critical Illness claims in 2019, with cancer accounting for 57% of all claims, followed by heart attack- 13% and stroke- 7%. The average payout accounted to £71,300, while the highest lump sum an individual received from LV following development of a critical illness last year added up to £534,775. The youngest claimant on an LV Critical Illness policy was just 29 years old.
Liverpool Victoria Income Protection Insurance Claims in Figures…
Liverpool Victoria paid a total of £14.2 million in 2019. While the average male claimant was 46 and the female claimant was 45, the youngest Income Protection was just 19 years old. The causes of claims were as follows; mental health- 29%, musculoskeletal issues- 25%, and cancer- 15% accounted for nearly three-quarters of the entire Income Protection claims Liverpool Victoria received. Claims related to ‘personal sick pay’ protection, which is designed for self-employed and contract workers, accounted for £2.8m with payments made to 1,162 individuals. The youngest claimant was 18 and the main reasons for claims were musculoskeletal – 46%, accidents – 17% and viruses -11%.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00