Record £883M Retail Protection Payouts in 2022

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It’s a relief to know that Legal & General is continuing to offer the financial security that so many of us rely on during tough times. In 2022, the company paid out an average of over £2.4 million on retail protection claims every day, and these claims benefited 17,768 people. The total comes to an impressive £883 million across life insurance, income protection, and critical and terminal illness products, which is an additional £85.76 million compared to the 2021 data. This brings the total paid out to an incredible £19.6 billion over the past twelve months.

These figures showcase Legal & General’s commitment to providing a reliable source of support to customers who have been affected by difficult circumstances. It’s clear that these payments are continuing to have a positive impact and are helping to restore confidence to those in need.

The investment into protection plan technology has also proved to be invaluable, allowing authorities to approve and process payments with ease and efficiency. For example, Policyholders using Legal & General’s Quick Quote system now receive decisions on their applications in as little as four seconds – a huge change from the lengthy wait times typically experienced in the past.

It’s because of this investment into innovative technology, as well as their dedicated commitment to customer care, that many people have found comfort and security in the coverage that Legal & General provides. Each and every customer is provided with access to helpful and responsive staff, all of whom work hard to ensure customers receive their payments as quickly as possible.

The numbers speak for themselves – Legal & General are a dependable provider of financial insurance in today’s uncertain landscape. The company’s payment record proves that they are committed to offering the highest level of support to their customers, regardless of how much coverage or pay out is needed. So no matter what kind of blow life throws at you, you can take comfort knowing that Legal & General is there to catch you.

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Record £883M Retail Protection Payouts in 2022