IRDA Best Claim Ratio

Hi I want to confirm the best term insurance claim ratio provided by the insurance companies as directed by the IRDA last year that is 2015 so can you please provide me the list of the claim ratio for the term insurance??

Hi the claim settlement ratio of term insurance providers according to IRDA in the year 2015 is given below you can have a look


Best Term Plans in India

Insurance Provider Death claims received Claim settlement ratio Death claims paid Claims pending Per claim average value (Rs)

LIC 755,901 98.19% 742,243 0.5% 120,654

Max Life 9,223 96.03% 8,804 0.1% 278,816

Birla Sunlife 8,436 95.30% 8,055 1.7% 345,241

Tata AIA Life 3,873 94.47% 3,659 1.0% 241,241

Star Union Daichi 1,266 94.08% 1,191 0.3% 285,306

ICICI Prulife 12,309 94.80% 11,546 0.8% 305,612

PNB MetLife 2,466 92.86% 2,290 1.5% 448,821

Bajaj Allianz 20,661 91.85% 18,978 3.0% 183,291
Kotak Mahindra Life 2,686 90.73% 2,437 3.2% 296,143

HDFC Std 12,189 90.50% 11,031 2.3% 238,890

SBI Life 14,876 90.06% 13,303 3.2% 229,572

Sahara Life 778 89.97% 700 3.6% 91,143

AegonReligare 460 89.78% 413 0.2% 744,068

Canara HSBC 576 89.58% 516 3.1% 558,333

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Answered By StudyChaCha Member