{"id":1339,"date":"2016-11-15T13:23:24","date_gmt":"2016-11-15T07:53:24","guid":{"rendered":"http:\/\/www.trucompare.in\/blog\/?p=1339"},"modified":"2017-06-05T19:56:42","modified_gmt":"2017-06-05T14:26:42","slug":"irda-claim-settlement-ratio-2016","status":"publish","type":"post","link":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2016\/","title":{"rendered":"Latest IRDA Claim Settlement Ratio in 2016-17 for life insurers"},"content":{"rendered":"<p>Update: Please check updated data for 2016-17( till March 31, 2017)\u00a0<a href=\"http:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-life-insurance-companies-in-2016-17\/\">here<\/a>.<\/p>\n<p>Here is the \u00a0IRDA claim settlement ratio 2016-17 for a few term life insurance for which data is available .<\/p>\n<ul>\n<li>HDFC Life has settled about 23006 claims \u00a0in 2016-17 while rejecting only 123 claims giving it a claim settlement ratio of 98%<\/li>\n<li>Max Life insurance has settled about 4137 claims in 2016-17 while rejecting about 77 claims giving it a claim settlement ratio of 93%. About 5% claims are pending.<\/li>\n<li>SBI Life has settled about 19856 claims with claim settlement of 91.6% till Sep 30, 2016<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Hdfc Life has also given some statistics on why claims are getting rejected. This is for the first time we are seeing insurers giving reasons for claim rejection:<\/p>\n<p>&#8220;Out of 53 repudiated claims,45% were repudiated due to non disclosure of existing health conditions, 19% were repudiated due to misrepresentation of age, 17% were repudiated due to income misrepresentation, 9% were repudiated due to non- disclosure of insurance with other insurance companies prior to our policy, 6% due to misrepresentation of occupation and 4% due to other misrepresentation.&#8221;<\/p>\n<p>This information should help you avoid these mistakes while buying a term insurance policy.<\/p>\n<p>To see the latest premiums and claim settlement ratio of \u00a0term insurance , <a href=\"http:\/\/www.trucompare.in\">compare now<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Update: Please check updated data for 2016-17( till March 31, 2017)\u00a0here. Here is the \u00a0IRDA claim settlement ratio 2016-17 for a few term life insurance for which data is available . HDFC Life has settled about 23006 claims \u00a0in 2016-17 while rejecting only 123 claims giving it a claim settlement ratio of 98% Max Life &hellip; <a href=\"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2016\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Latest IRDA Claim Settlement Ratio in 2016-17 for life insurers<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-1339","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3wDt5-lB","jetpack-related-posts":[{"id":837,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2015-2016\/","url_meta":{"origin":1339,"position":0},"title":"Latest IRDA Claim Settlement Ratio in 2015-16 for life insurers","author":"Trucompare","date":"December 11, 2015","format":false,"excerpt":"Updated-\u00a0Some of the insurers have their data available for 2016-17( Till Sep 30,2016) and the same is being updated on our website. Check the same by getting a quote. This data has been compiled from IRDA filings done by various insurers. Here is the summary: Max Life has claim ratio\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"Max Life IRDA data 2015-16","src":"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2015\/12\/Max_moredetails.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2015\/12\/Max_moredetails.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2015\/12\/Max_moredetails.png?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2015\/12\/Max_moredetails.png?resize=700%2C400 2x"},"classes":[]},{"id":738,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2015\/","url_meta":{"origin":1339,"position":1},"title":"IRDA Claim Settlement Ratio for 2015 &#8211; Compare best online term insurance plans","author":"Trucompare","date":"October 3, 2015","format":false,"excerpt":"IRDA Claim Settlement Ratio for 2015 Update- We have updated the claim settlement ratios of online term insurance plans for 2014-15(based on IRDA annual report)\u00a0 and 2015-16 ( till Dec31, 2015 based on latest data submitted to IRDA by the insurers) on our website. IRDA has just published its annual\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"TruCompare_head","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":772,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-health-insurance-in-2014-15\/","url_meta":{"origin":1339,"position":2},"title":"IRDA Claim Settlement Ratio of Health Insurance in 2014-15","author":"Trucompare","date":"November 8, 2015","format":false,"excerpt":"Having covered some of the health insurance claim ratios for Apollo Munich and Star Health insurance in 2014-15, here is IRDA claim settlement ratio of heath insurance in 2014-15 for some of the top companies. Claim Settlement ratio of Max Bupa in 2014-15- 79.7% Claims Rejected- 12.56% Total claims settled-\u2026","rel":"","context":"In &quot;Health Insurance&quot;","block_context":{"text":"Health Insurance","link":"https:\/\/www.trucompare.in\/blog\/health-insurance\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1584,"url":"https:\/\/www.trucompare.in\/blog\/claim-settlement-ratio-of-star-health-insurance\/","url_meta":{"origin":1339,"position":3},"title":"Claim Settlement Ratio of Health Insurance Companies in 2021- Star Health Insurance","author":"Trucompare","date":"March 5, 2022","format":false,"excerpt":"Here is the claim settlement ratio for Star health insurance for year 2020-21 and 2021-22( till Q3). This is a period when covid 19 stuck. For Star Health Insurance 2020-21: Number of Claims received- 11.1 lakhs Number of claims settled- 8.48 lakhs Claims Rejected- 1.53 lakhs Claims pending- 93000 Claim\u2026","rel":"","context":"In &quot;Health Insurance&quot;","block_context":{"text":"Health Insurance","link":"https:\/\/www.trucompare.in\/blog\/health-insurance\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":743,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-star-health-insurance-in-2014-15\/","url_meta":{"origin":1339,"position":4},"title":"IRDA Claim Settlement Ratio of Star Health Insurance in 2014-15","author":"Trucompare","date":"October 4, 2015","format":false,"excerpt":"Star Health Insurance is one of the most popular health insurance brands in the country. Although it offers great variety of health insurance products, its claim settlement ratios for 2014-15 are not very impressive. Here is a brief summary: Total Claims Processed-93833 ( Shows that it is one of the\u2026","rel":"","context":"In &quot;Health Insurance&quot;","block_context":{"text":"Health Insurance","link":"https:\/\/www.trucompare.in\/blog\/health-insurance\/"},"img":{"alt_text":"Compare health insurance plan features and IRDA data","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2015\/11\/Table.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2015\/11\/Table.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2015\/11\/Table.png?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2015\/11\/Table.png?resize=700%2C400 2x"},"classes":[]},{"id":592,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2014\/","url_meta":{"origin":1339,"position":5},"title":"IRDA Claim Settlement Ratio 2013-14 &#8211; Compare Term Insurance Plans","author":"Trucompare","date":"March 21, 2015","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"TruCompare_head","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/1339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/comments?post=1339"}],"version-history":[{"count":5,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/1339\/revisions"}],"predecessor-version":[{"id":1435,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/1339\/revisions\/1435"}],"wp:attachment":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/media?parent=1339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/categories?post=1339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/tags?post=1339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}