IRDA Claim Settlement Ratio 2013-14 – Compare Term Insurance Plans


Update- We have updated the claim settlement ratios of insurers for 2014-15 on our website. Compare now to view details. We have written about Max Life claim ratio for 2014-15 here.

Following is the statistics for IRDA Claim Settlement Ratio 2013-14 for individual death claims by insurance companies. I have tried to take some of the popular brands in the market.

No of Claims Recd Claim Amount Claim paid
Aegon Religare 324 26.34 81%
Bharti AXA 950 26.14 cr 88.13%
Aviva 2033 119.83 cr 84.01%
HDFC Life 6824 216.94 cr 94.01%
Edel TOKIO 48 4.5cr 60.00%
Bajaj Allianz 21658 440.98 cr 91.29%
Kotak 2687 71.09 cr 90.69%
SBI Life 12960 255.28cr 91.06%
Birla SunLife 8071 268 cr 87.76%
ICICI Pru Life 12608 278.6cr 94.1%
Max Life 8896 214.6 cr 93.86%
Reliance Life 17241 202.96 81.97%
Tata AIA 4225 94.80 89.68
LIC 746212 8475.26 cr 98.14%
  • Among the private players Max Life, HDFC Life, ICICI Pru rank as the Top 3 when it comes to claim settlement ratio. Premium wise Max Life is the cheapest and ICICI PruLife is the most expensive
  • Aegon, Axa, Aviva are cheap but don’t have great claim settlement ratio
  • LIC has the best claim settlement ratio but their online term insurance is damn expensive.

You can compare online term insurance plan premiums and historical  IRDA claim settlement ratio data from 2010 to 2014 using our term insurance premium calculator.

IRDA Claim Settlement Ratio for Max life Insurance

Complaint Resolution data for Max Life Insurance

IRDA Claim Settlement Ratio 3013-14 for Insurance Companies in India



Leave a Reply

Your email address will not be published. Required fields are marked *