Legal and General claims pay out £883million
This week, insurance provider Legal and General have released their claims statistics for 2022. Legal and General paid out a total of £883million across life insurance, critical illness, terminal illness and income protection policies.
Why is it important for insurers to publish claims statistics?
We believe it is so important for insurers to be open about their claims statistics. Refusal to post claims statistics should be a cause for concern for both consumers and insurance regulators.
About Legal and General
- Income protection
- Critical Illness Cover
- Business protection
- Pet Insurance
- Home insurance
- Cash ISAs
Types of life insurance sold by Legal and General
Legal and General was established back in 1836 by a group of 6 lawyers. They have won countless awards over the years, most recently winning 4 Stars for Life & Pensions at the Financial Times Financial Adviser Service Awards.
Legal and General claims statistics 2022
|Legal and General life insurance claims||Legal and General critical illness claims||Legal and General children’s critical illness claims||Legal and General income protection claims||Legal and General terminal illness claims|
|Total paid out (2022): £509million||Total paid out (2022): £224million||Total paid out (2022): £4million||Total paid out (2022):£3million (includes ongoing claims)||Total paid out (2022): £141million|
|Number of successful claims: 12,571||Number of successful claims: 3,236||Number of successful claims: 232||Number of successful claims: 556||Number of successful claims: 1,116|
|Percentage of claims paid: 96.7%||Percentage of claims paid: 93.4%||Percentage of claims paid: 99.6%||Percentage of claims paid: 82.2%||Percentage of claims paid: 94.3%|
|Average amount paid out: £40,526||Average amount paid out: £69,421||Average amount paid out: £20,236||Average amount paid out: £743 per month||Average amount paid out: £126,996|
Top reasons for L&G insurance claims
Here are top reasons for claims on Legal and General policies by policy type.
Life insurance – 34.2% = Cancer, 21% = Heart related issues, 6.1% = Neurological conditions
Critical Illness – 63.8% = Cancer, 12.7% = Heart related issues, 7.8% = Stroke
Children’s critical illness – 55.6% = Cancer, 9.1% = Benign Tumour, 8.6% = Child funeral benefit
Terminal illness – 91.9% = Cancer, 3.1% = Neurological conditions, 0.5% = Respiratory conditions
Legal and General: Make a claim
Legal and General will work hard to make their claims process as simple as possible. Here is what you need to know before submitting a claim with Legal and General. If you are claiming on a life insurance policy, you will need the following details to hand:
- The policy holder’s name and policy number
- Relationship to the policy holder
- Are you the next of kin?
- Date of death
- Place and cause of death (if this is known)
Legal and General claims number
Life insurance claims: Telephone – 0800 137 101
OR you can email firstname.lastname@example.org
Should I buy a Legal and General insurance policy?
Insurance policies are the best and cheapest way to protect your family and your home. There are a range of benefits to each policy type and many people choose to have multiple policies for extra protection.
Life insurance pays out a cash lump sum in the event of your death that can be used to pay for important costs such as funeral expenses or repaying a mortgage. Legal and General sell a range of different life insurance policies to suit different needs and budgets.
Critical illness cover pays out a cash lump sum on diagnosis of a serious medical condition. Income protection insurance will provide a tax-free monthly income, to support you if you can’t work for 4 or more weeks.
Every insurer will vary in how the policies work and the benefits that they can offer their customers. Legal and General are one of our trusted insurance partners and offer a variety of great benefits to their customers including:
- Terminal illness cover included as standard with all life insurance policies
- 24/7 virtual GP services that provide access to second medical opinions
- Guaranteed insurability allows customers to increase cover with no further medical questions following major life events e.g. marriage or birth of a child
- Accidental death cover provides protection for up to 90 days when a life insurance application is being processed
If you think a Legal and General policy is a good choice for you, speak to one of our insurance specialists to find out more. With years of expertise, our team can find you the best L&G quotes quickly and easily. We will also compare prices and policies across the market to ensure you get the right cover at the BEST price.