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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

Legal and General is the UK’s biggest life insurance provider based on number of policies sold. They also sell a range of other insurance products and financial products including:

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): £509millionTotal paid out (2022): £224millionTotal paid out (2022): £4millionTotal paid out (2022):£3million (includes ongoing claims)Total paid out (2022): £141million
Number of successful claims: 12,571Number of successful claims: 3,236Number of successful claims: 232Number of successful claims: 556Number 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: £40,526Average amount paid out: £69,421Average amount paid out: £20,236Average amount paid out: £743 per monthAverage amount paid out: £126,996

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)

Life insurance claims: Telephone – 0800 137 101

OR you can email life.claims@landg.com

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.

Useful resources

Legal and General – Our claims

Legal and General Group – Legal & General pays out a record £883 million in 2022

Legal and General – Making a claim

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