The provider of life insurance and financial services, LV= has reported that 86 per cent of claims, were paid across its income protection and critical illness policies in 2007.
This is an increase from 2006, when around 86 per cent of claims were paid for income protection and around 81 per cent of claims were paid for critical illness protection.
Overall, more than £54.9 million was paid out to policyholders in protection claims in 2007, which includes £5.8 million in critical illness claims and £15.2 million in income protection claims.
Chris McFarlane, the head of protection at LV=, said: "We are pleased that we have seen an improvement in our claims record.
He added: We have put a lot of work into developing ways to help financial advisers and their clients with policy applications and claims, so that valid claims are paid promptly, and that the risk of non-disclosure is significantly reduced."
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