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
- LIC – 98.31 %
- Max Life – 97.81%
- HDFC Life – 97.62%
- Aegon Life – 97.11%
- SBI Life – 96.69%
- ICICI – 96.68%
To get the claims properly in the Life Insurance
- Pls provide the material facts, details properly on the proposal form
- Disclose the Facts properly ( Hospitalistation / existing illness )
- 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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