Press releases

Legal & General release Income Protection Benefit Claims figures for 2010.

Russ Whitworth - Underwriting & Claims Director Legal & General Insurance
Russ Whitworth
Underwriting & Claims Director, Legal & General Insurance

11 April 2011

Russ Whitworth - Underwriting & Claims Director Legal & General Insurance
Russ Whitworth
Underwriting & Claims Director, Legal & General Insurance

As the UK’s number one protection provider* Legal & General have recently improved their Income Protection Benefit Plan to make it more comprehensive. Ill health or injury can affect anybody at any time and state support is often insufficient to cover bills, mortgage repayments and maintain individual or family lifestyles.

In January the Department for Work and Pensions (DWP) released figures for those eligible for the Employment and Support Allowance (ESA). Only 22% of those assessed were deemed suitable for welfare support.** This highlights the need for individuals to make sure they have the right cover in place to protect their income.

Legal & General paid 93% of all IPB claims made in 2010. 2% were declined for non- disclosure and 5% were declined where the claim did not meet the terms of the policy. The top three reasons for claims were Musculoskeletal, Mental illness and Cancer.

Commenting on the figures Russell Whitworth, Claims & Underwriting Director for Legal & General said,

 “ I am delighted that we have been able to report such a high percentage of claims paid for our Income Protection Benefit Plan. This benefit provides a monthly payment in the event someone is unable to work due to an illness or injury. 

Many people over estimate the amount of money they will receive from their employer or the state in terms of benefit if this were to happen. At a time when the state is cutting back on the support it provides, it is vital that customers seek financial advice so they can protect themselves. Having an Income Protection Benefit policy in place gives customers peace of mind”.

Ends.

Notes to editors

The information contained in this press release is intended solely for journalists and should not be relied upon to make any financial decisions.

* Swiss Re Term & Health Watch 2010 report based on new individual protection sales in 2009.

Source : Legal & General IPB Claims figures 2010

** www.DWP.gov.uk WCA statistical release 2011

Legal & General Assurance Society Limited is authorised and regulated by the Financial Services Authority (FSA).


For more information please contact:

Alyson Bowcott

Alyson Bowcott
PR Manager, Legal & General Group

t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
e: alyson.bowcott@landg.com


About Legal & General

Legal & General Assurance Society Limited.

Registered address:
One Coleman Street
London EC2R 5AA.
Registered in England 166055.

About Legal & General

Legal & General Group Plc.

Registered Office: 
One Coleman Street 
London 
EC2R 5AA.

Registered in England. Registered Number: 1417162.

Legal & General Group Plc is a holding company, subsidiary undertakings of which are fully authorised as appropriate under the Financial Services and Markets Act in respect of their investment activities in the UK.

© Legal & General Group Plc 2011


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