Legal & General paid over £392.4m in life claims in 2019 with 97% of claims made being paid out.
L&G also paid out £111.8m for terminal illness claims and £224m in critical illness claims during the year.
In total more than 15,000 customers and their families benefitted from individual cover as L&G paid out the equivalent of just over £2m every day.
David Banks, director of claims and underwriting, Legal & General Insurance, said: “Our purpose as a business is to support our customers at some of the most challenging times in their lives.
“An unexpected change in circumstances such as a critical illness diagnosis or the loss of a loved one can have a devastating impact on a family.
“For those facing a life-changing condition or grieving over the death of a family member, the importance of financial security cannot be overstated.
“We take incredibly seriously the responsibility of financially supporting our customers at their most vulnerable. Last year we supported over 15,000 people through paying their claim.
“But behind our claims statistics are real people: families who have lost a parent, renters who are unable to work due to illness or injury, individuals who have been diagnosed with life changing critical illnesses.
“We will continue to place our entire focus on providing this vital financial security for our existing and new customers alike.”