Insurance Planning Info: Life Insurance – Death Claim Settlement Ratio – 2011-12

Worth reading and understanding …

 

Claim Settlement Ratio is probably the most important factor while buying insurance. This becomes even more critical for the person whose Life is Insured as you would not like your dependents to run pillar to post to claim your sum assured in case of unfortunate death.

 

Some Insights:

1. LIC has the best Claim Settlement Ratio of more than 97.4%
2. DLF Pramerica has the worst payout ratio of 24.5%. But DLF is new in insurance and the Claims are just 223, so nothing can be concluded about its claim ratio
3. ICICI Prudential, HDFC Standard and SBI Life have claim settlement ratio of more than 95%.
4. ING Vysya, Reliance, Tata AIG, Metlife, Sahara, Future Generali, Shriram Life have more than 1000 claims and still low claim settlement ratio.

 

http://apnaplan.com/life-insurance-death-claim-settlement-ratio-2011-12/    

 

Life Insurance Death Claim Settlement Ratio 2011-12

 

 

 

 

Best Regards,

Chirag Gandhi

Obstacles are those frightful things you see when you take your eyes off your goal. ~~~More, Hannah