LV= paid out 95 per cent of protection claims in 2012, the same level as was paid out in 2011.
The firm’s figures include 99 per cent payment of life cover claims, falling slightly from 100 per cent the previous year.
Payment of critical illness claims rose to 91 per cent, from 88 per cent in 2011.
Payment of income protection claims remained the same at 91 per cent.
Cancer was again the most common critical illness claim, making up 65 per cent of the total, compared to 61 per cent the previous 12 months.
LV= head of protection Mark Jones says: “We paid out almost £50m in protection claims to our customers during 2012, offering an invaluable benefit to people at an extremely difficult time.”