Scottish Provident paid out over £37.5 million in life cover claims during 2010.

The total percentage of claims paid between 1 January and 31 December 2010 for life cover was 97.8%.

It adds that the average payout during the year was £77,712 and the average age of claimants in 2010 was 54 years old. 6% of all claims paid out were to claimants under the age of 35.

Total claims paid between 1 January and 31 December 2010 for life cover is £37,534,663.

Susan Barclay, head of marketing, Scottish Provident said: “Our life cover policy provides customers with peace of mind and financial security for their families should the worst happen. The 98% pay-out rate is testament to the value of our plans – they pay out when people need it.”””