Bright Grey paid out 93pc of 2012 CI claims

The average critical illness payout was £73,000.

Ian Smart, head of product development and technical support, said: “We’re very pleased to report such a high claims paid figure for 2012.

“When someone is diagnosed with a serious illness the last thing they will want to worry about is how they will cope financially.

“And the payout from a critical illness plan provides valuable financial support when they need it most.”

Nearly two thirds of claims paid were for cancer (64%) followed by heart attack (14%) and multiple sclerosis (8%).