Mental health claims are growing and now make up a third of all those received on group income protection (GIP) policies, according to Legal & General.
Analysis by the provider of its GIP claims found a third (31%) of all those made since 2000 were for mental health issues. This was punctuated by a notable rise over the last six years, with mental health prompting 31% of claims in 2011, up from 25% in 2005. The insurer also found that those in the finance and insurance sector were most likely to make a mental health related claim. Here almost half (44%) of GIP notifications were for mental health related issues, 13% higher than the average and 27% higher than the lowest sector (mining, oil and gas extraction, 17%). Diane Buckle...
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