Aviva paid out 93pc of IP claims
Aviva protection customers and their families received more than £475m through claims on life insurance, critical illness cover and individual income protection policies in 2012. This equates to more than £1.3 m pounds a day or £902 per minute.
Robert Morrison, chief underwriter for Aviva said: “Our latest figures are great news for all families who have protection or are thinking of taking out cover.
“Protection policies are the types of products no-one ever wants to claim against but the financial comfort they offer at a difficult time cannot be underestimated.
“Almost 14,000 of our customers and their families benefited from payments last year so people can be reassured that we are absolutely committed to paying claims wherever possible.
“This is borne out by our latest claims statistics. We will continue to work with our customers to ensure if they need to make a claim their journey is as quick and straightforward as possible.”
The insurer revealed that it paid out a total £475m in 2012 for Life, Critical Injury and Income Protection claims.
The figures include £324m (up £4m from 2011) paid to the families of life insurance customers who have died or been diagnosed with a terminal illness and over £131m (up £17m from 2011) paid to customers with CI cover. Payments to IP customers totalled almost £15m (up 1.3 m from 2011).
The data also reveals that during 2012 Aviva made payments for 10,880 life insurance claims (up 385 from 2011), 1,716 CI claims (up 148 from 2011) and 1,130 individual IP claims (compared to 1,227 in 2011).