Legal & General has said it paid out £883m retail protection claims for 2022, an increase of 5% on the previous year.

The payments were made to 17,768 claimants across life insurance, income protection and critical/terminal illness products.

The claims data which were published today (24 May) showed that on average the insurer paid out over £2.4m retail protection claims a day in 2022.

This represents an additional £85.76m in total claims paid when compared with Legal & General’s data for 2021, and brings the total amount paid out to customers to £3.8bn over the last five years.

Legal & General said Covid-19, previously number three in the list of reasons for people claiming life insurance has fallen to number six.

Cancer, heart and neurological conditions were the most common claim causes for life insurance.

There were also paid out for income protection with an average claimant age of 39 years old. It said this demonstrated the importance of having protection in place at every age.

Legal & General Retail director of claims and underwriting David Banks said: “Legal & General is committed to paying as many claims as possible to our valued customers, and we’re proud to have provided increased financial support for a record number of people at their time of need over the last year. This demonstrates the value of protection and the need for coverage across people’s lives.

“While the financial support we offer to individuals and their families when they face a sudden loss of income is critical, we’re incredibly proud of the additional wellbeing services we’ve provided for our customers. Protection goes far beyond paying claims, and we continue to put the ongoing emotional and physical health of our customers first through enhancing our extensive umbrella benefits.”

Legal & General Retail covers the savings, protection and retirement needs of c.13 million retail policyholders and workplace members.

The insurer has taken in £3.1bn of gross written premiums.