Though the claim settlement ratio mentioned here includes not only term policies but any kind of policy offered by the company, one can certainly depend upon these values for reliability.
Not exact matches
Most prospective buyers of a term plan, for that matter of any life insurance plan, are unaware about it or worse ignore the
Claim Settlement Ratio even
though it has far reaching ramifications.
Though LIC has maintained the highest
claim settlement ratio in the last 4 years, the premium charged by LIC for e-Term is higher than the premiums charged by many other insurance companies for term plans.
ICICI Prudential has the second best
claim settlement ratio of 94.1 even
though it has gone down from last year's CSR of 96.29.
Even
though in the article I have presented the
claim settlement ratio I feel while buying insurance policies going by the
claim settlement ratio is not the appropriate way of looking at it.
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.