Legal & General today released figures for 2022, revealing that 20% of all the employees in the UK that were able to return to work before the payment of any benefit from the Group Income Protection (GIP) they were covered by, was as a result of Legal & General’s early intervention and/or vocational rehabilitation services.
17 May 2023
In 2022, Legal & General’s internal clinical team carried out 7,155 assessments. They also funded 3,219 sessions for claimants suffering from physical and mental health conditions with their physiotherapy and psychological healthcare partners, up on 2,509 in 2021.
92% of employees with GIP mental health claims and 80% with GIP musculoskeletal claims were able to return to work between the time when they’re first absent and when a claim becomes payable - normally referred to as the deferred period, which is often 6 months.
Legal & General says the ongoing strength of its annual vocational rehabilitation and early intervention results are testament to its whole-person philosophy, which helps intermediaries and employers join the dots between the four pillars of wellbeing (physical, mental, financial and social). This philosophy is embodied in – and simplified by – Legal & General’s Be Well. Get Better. Be Supported. framework of wellbeing support; the whole-person model predicated on people getting back to – or staying in – ‘good work’ as a key health goal.
Support provided included:
In 2022, Legal & General paid total claims of around £320.4m in Group Protection claims across Group Life Assurance, Group Income Protection and Group Critical Illness.
Vanessa Sallows, Claims and Governance Director, Legal & General Group Protection: "2022 saw good outcomes for Legal & General’s Group Protection customers. We’ve provided financial peace of mind when people need it most. We’ve helped break down barriers to wellbeing, helping more people access the support they need in a way that works for them; using technology to complement the human aspects of the service we provide.
“At Legal & General, our goal is to help intermediaries and clients optimise wellbeing. Central to this is our Be Well. Get Better. Be Supported. framework. We’ve long advocated whole person thinking; joining the dots between the four pillars of wellbeing, viewing good mental health as the foundation for everything, and considering staying in – or getting back to – ‘good work’ as a key health goal. Today’s announcement is testament to the success of our philosophy and framework. It’s also a reflection of the dedication, innovation and support of an amazing team.”
1 Based on GRID’s 2022 all-of-industry statistics which show that 4,257 people were able to go back to work during the deferred period last year because of an active early intervention funded by an insurer.
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023
Legal & General Retail helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.13 million retail policyholders and workplace members.
In 2022, we had total individual annuity sales of £954 million, and issued £632 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 4.9 million members, while our Protection businesses gave peace of mind to more than 6.3 million UK life insurance, 1.8 million group and 1.5 million US customers, taking in £3.1 billion of gross written premiums.
*at 31 Dec 2022