The number of protection claims paid out by Legal & General in 2023 increased by 8 per cent year-on-year.
The insurer paid total claims of almost £350mn across group life assurance, group income protection, and group critical illness across 2023 - an increase on the previous year which saw £320mn paid out.
This equates to an average of just under £1mn paid out every day in 2023.
The insurer’s data also revealed there were over 150,000 interactions with additional help and support services available at no cost to employees to help them manage their wellbeing.
Many of the employees covered by Legal & General group protection “benefitted” from immediate access to “valuable” support to help them keep well and in work, according to the insurer.
The support available through the arrangements made by these employers often extended to both the dependents of the employees and employers who weren’t being covered.
Legal & General Retail group protection claims and governance director, Vanessa Sallows, said: “We’re proud to maintain our incredibly strong GIP early intervention and vocational rehabilitation results.
“GIP effectively helps to support employees to manage their wellbeing, preventing them from dropping out of the workplace in the first place and, where appropriate, helping them get back on track when they do.
“It’s for this reason that we report, for the first time this year, on total ‘interactions’ with preventative help and support services; an essential component of our ‘Be Well. Get Better. Be Supported.’ framework.
“Our goal is to help people return to - and stay in - good work, because that’s beneficial for whole person health and wellbeing: physical, emotional, financial, and support.”
The data also showed cancer represented the most common reason for making a claim, accounting for over a quarter of new claims.
The average GIP claim paid was £21,843 and the average age of a claimant was 42.
Additionally, 83 per cent of group income protection claimants were able to return to work within the deferred period.
Some 92 per cent of employees with GIP mental health claims and 79 per cent with GIP musculoskeletal claims were able to return to work within the deferred period, which is often six months.
tom.dunstan@ft.com
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