It was also the fourth highest reason for claims on critical illness cover overall, ahead of claims for both testicular and lung cancer.
L&G also found that the average age of men claiming for prostate cancer was 55.
March is prostate cancer awareness month. There are 110 prostate cancer diagnoses daily according to Cancer Research UK and it is the second most common cause of cancer deaths in men.
LV= recently found that 19% of its male critical illness claims were from prostate and testicular cancer, while 7% of all female claims were for ovarian cancer.
Mark Holweger, managing director, intermediated at Legal & General Assurance Society said: “Prostate cancer is a big issue in men’s health in the UK and Legal & General fully supports Prostate Cancer Awareness Month to encourage men to think about their health.
“Men are reluctant to talk about any health worries but it is so important that men talk to their doctor about any symptoms or concerns they have, and ensure they get to regular check ups.”