Aviva paid out for 99.3 per cent of life insurance claims and 92.9 per cent of critical illness claims in 2013, the insurer has revealed.
Total payouts for protection claims by Aviva reached £505m to 13,600 customers and their families. This is the highest total payout to date and the insurer claims shows a steady year-on-year increase, with the amount paid out in life insurance claims increasing by 61 per cent over the past five years.
Aviva is the latest insurer to reveal their payout rates in accordance with the code of conduct introduced by the Association of British Insurers.
Skandia paid out 96 per cent of CI claims after re-entering the market in April, although was unable to provide the total number amount paid.
Aegon paid 93.2 per cent of CI claims and 94 per cent of life cover claims last year, representing increases of 2 and 0.1 per cent respectively.
Zurich paid out 94 per cent of CI policy claims in 2013, up from 90 per cent the previous year.
Robert Morrison, chief underwriter for Aviva, said: “With insurers now adhering to the code - or spelling out any reasons for not following it - this will allow customers and advisers to see clearly how providers compare.”
