Protection insurer LV= has made payments of more than £2.5m so far in Coronavirus-related income protection and death claims to nearly 300 individuals and families.

By 30 April the provider says it had paid out 146 Coronavirus-related claims to policyholders with short waiting period Personal Sick Pay policies.

Claims were assessed through a personalised tele-claims service.

LV= has received 150 Covid-19-related death claims so far.

The company says that since the start of the outbreak it has introduced a series of measures to help members. These include payment breaks offered a month at a time for up to three months. While members are on a payment break their policy and cover will remain in force.

LV= is also offering members access to six expert medical services provided by Square Health, including remote GP service available 24/7.

Qualified counsellors and nurses are also available.

LV= has also introduced a series of changes to the way it underwrites income protection, critical illness and life assurance policies including increasing non-medical limits by 10% for income protection, personal sick pay and critical illness cover. It is also trialling virtual medical screening for life only applications where the non-medical underwriting limit has been triggered and where mild disclosures have been made.

Debbie Kennedy, director of protection at LV=, said: “The death toll from the Coronavirus pandemic is shocking and the families who have lost loved ones will be devastated. I’m proud how we're adapting to offer reassurance and support where we can – it’s in times like these that the strengths of mutuality can come to the fore. 

“We understand the emotional impact of bereavement and are doing all we can to make sure death claims are paid as quickly as possible so that families do not have to worry about the immediate financial impact of bereavement while they are grieving."