Mental health GIP claims see six year rise

clock • 1 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income Protection

Advisers promoting IP but conversion rates remain low - IPTF

IPTF adviser survey

John Brazier
clock 04 May 2021 • 3 min read

Steven Dean: How GIP can aid diversity and productivity

Group income protection

Steven Dean
clock 28 November 2018 • 4 min read

Steven Dean: How GIP can help business clients meet legal requirements

Group income protection

Steven Dean
clock 19 September 2018 • 3 min read