A personal approach to handling claims

We’re proud to have a strong claims track record. But when your clients are going through a difficult time we know the experience they have is important too.

That’s why from a single point of contact who manages a claim from start to finish, to access to additional emotional and practical support through our Helping Hand service, we make sure all claims are handled with care.

Case study – Derek’s story

DEREK:

I had been aware that I had a prostate issue for a good number of years.

I had prostate cancer.

I started this industry some 30 odd years ago. I had my own practice for something like 15 years that got bought out and after that and a period of intellectual indolence I decided that I had to do something and, in particular, I wanted to start a support business for smaller directly regulated IFA's. That was 14 years ago with panacea.

SHELLEY:

So you had some unexpected news last year?

DEREK:

I had regular checks, biopsies all the sort of thing that people are advised to have with a very good consultant. But not withstanding that I found this out not because tests had shown that I had prostate cancer but because the surgery that I had which underwent particular analysis from tissue removal had shown that I had prostate cancer and thankfully the removal of the tissue should have actually seen the cure of the problem.

SHELLEY:

So what went through your mind when you were told that you had cancer?

DEREK:

After the event I've come to think more reflect more about it and realise that for me it is probably a life changing event.

SHELLEY:

And I believe you had a personal protection plan as well?

DEREK:

Yes I did. Advised upon by myself of course a good few years ago and something that I had retained, in my particular case, a whole of life cover with critical illness.

SHELLEY:

And that was with Royal London?

DEREK:

Yeah that's correct.

SHELLEY:

And how did you find the overall process dealing with Royal London?

DEREK:

The process was simply stunning. I wasn't really sure that these policies that I'd had all this period of time would actually cover this condition. I know that definitions of cancer and things have impacts on policies and whatever. But from my point of view it turned out, particularly after taking some financial advice, that it looked like it was something that was covered.

SHELLEY:

So what did that pay out allow you to do then?

DEREK:

It's allowed me to perhaps think more calmly about life. It buys a lot of comfort in that regard. Running a business is not the easiest of things, particularly small businesses in this day and age, and certainly it has the potential from my point of view to make life just that little bit easier from worrying about the success of your business. And also it means that if you do have a situation that your condition is going to deteriorate, hopefully mine won't, there is a certain sum of money which is sitting there which is meaningful that can take the pressure off at the time that you perhaps don't need any financial pressures.

SHELLEY:

Were you aware of the risks of prostate cancer before your diagnosis?

DEREK:

Not especially, until I started to have the symptoms of this and you read more and more about it. I think for guys it's a very unpleasant thing to confront I think and certainly men these days who are at 45 50 need to make sure they get regularly checked.

SHELLEY:

What would you say are your thoughts and feelings about personal protection and is it important to other people?

DEREK:

Well my thoughts on protection I guess aren't particularly any different to what they were when I decided I was going to take protection out and having been an IFA and seen the impact of people making claims of clients - protection is basically one of the key things in terms of financial planning.

SHELLEY:

Thanks Derek.

Our claims at a glance

99% total claims paid in 2018

£506m total amount paid to customers in 2018

38064 claims paid to customers and families at a difficult time

Source: Royal London UK protection business claims paid (1 January to 31 December 2018).

Our claims - a detailed look

2018 claims paid snapshot

2018 claims paid snapshot (adviser)

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2018 claims paid report

2018 claims paid report
 (adviser)

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2018 claims paid report

2018 claims paid report (customer)

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This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.