As we can see from the first table above, LIC has consistently maintained the best
claim settlement ratio among all insurance companies in the last 4 years.
LIC had had the highest
claim settlement ratio among insurers for many years now.
Not exact matches
And
among other things, don't forget to check the
claims settlement ratio of the insurance company you finally choose and read these tips before you fill up your term insurance application form.
But, LIC has the highest
claim settlement ratio (98.33 %)
among the life insurers.
According to IRDA's latest data for 2015 - 16, ETLI ranked 17th
among the 24 Life Insurers on CSR for individual death
claims, with a
settlement ratio of 85.11 per cent.
However, smaller private insurance companies like AEGON Religare, Edelweiss Tokio Life, DLF Pramarica Life, Shriram Life etc. are
among the lowest
claim settlement ratio in 2012 - 13.
Though LIC has maintained the highest
claim settlement ratio in the last 3 years, the premium charged by LIC for Amulya Jeevan is also the highest
among premiums charged by insurance companies for term plans.
New India Assurance, Royal Sundaram and Universal Sompo have
among the highest
claims settlement ratios in the non-life industry.