Over 15,000 customers and their families received individual pay-outs from the insurer last year
Legal & General paid out a total of £731m worth of claims across life, critical illness, terminal illness and income protection policies during 2019 - the equivalent of £2m a day.
The insurer has paid nearly £3bn to individuals and families over the past five years.
L&G paid 97% of life claims in 2019 - a total of around £392.4m across 10,721 pay-outs. The three main conditions were cancer (37%), heart related diseases (18%) and respiratory illnesses (5%), and the average pay out was £36,608.
For critical illness (CI), it paid 92% of claims and a total of £224m across 3,351 policies. The most common conditions were cancer (66%), heart attacks (21%) and stroke (6%), and the average pay-out was £66,857.
For children's CI, Legal & General paid out more than £2.1m to 140 customers, representing 96%. The average pay-out was £15,182. Cancer was the cause behind the highest proportion (63%) of claims, followed by child funeral benefit (14%), blindness (2%) and strokes (2%).
The insurer paid out £111.8m across 1,066 terminal illness claims in 2019 (95%). The majority were caused by a cancer diagnosis (94%) and the average customer pay-out was £104,911.
For income protection, L&G paid 93% of claims to 483 people (include new claims and those being paid out before 1 January). Musculoskeletal disorders (33%) were the leading cause for an IP claim, followed by cancer (17%) and mental health (12%).
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."
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