Top 6 Life Insurance Companies Claim Settlement Ratio for 2016

Top 6 Life Insurance Companies Claim Settlement Ratio for 2016 – 17

Below is the IRDA Claim settlement Ratio for 2016 – 17, the colour differentiator is for better understanding the standards.

What is Claim Settlement Ratio?

Claim settlement ratio is an indicator that how much the death claims the company settled in a Financial Year, It is calculated against the total no of claims received against total no of claims settled.

Based on the IRDA Chart, Out of 24 Companies, the Top 6 Companies with claim settlement ratios are 

  1. LIC – 98.31 %
  2. Max Life – 97.81%
  3. HDFC Life – 97.62%
  4. Aegon Life – 97.11%
  5. SBI Life – 96.69%
  6. ICICI – 96.68%

To get the claims properly in the Life Insurance

  1. Pls provide the material facts, details properly on the proposal form
  2. Disclose the Facts properly ( Hospitalistation / existing illness )
  3. Sec 45 of Insurance Act will guard you, if the company rejects your genuine claim

Life Insurance is an Integral part of Financial Planning. 

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