{"id":36,"date":"2013-09-06T15:52:17","date_gmt":"2013-09-06T06:52:17","guid":{"rendered":"http:\/\/trucompare.wordpress.com\/?p=36"},"modified":"2015-03-16T16:27:52","modified_gmt":"2015-03-16T07:27:52","slug":"irda-claim-settlement-ratio","status":"publish","type":"post","link":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio\/","title":{"rendered":"IRDA Claim Settlement Ratio of Life Insurance Companies"},"content":{"rendered":"<p><a href=\"http:\/\/trucompare.in\/\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"484\" data-permalink=\"https:\/\/www.trucompare.in\/blog\/what-is-term-insurance\/trucompare_head\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" data-orig-size=\"205,21\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"TruCompare_head\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" class=\"alignnone size-full wp-image-484\" src=\"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=205%2C21\" alt=\"TruCompare_head\" width=\"205\" height=\"21\" \/><\/a><\/p>\n<p>As indicated in my earlier post, IRDA claim settlement\u00a0ratio might be an important factor in determining the best term insurance plan in India. Following is the stats for 2011-12 for \u00a0IRDA claim settlement ratio for individual death claims by insurance companies. I have tried to take some of the popular brands in the market. I have also included premium for a 1 crore\/30 year old\/30 year person in order to make some cost comparisons also.<\/p>\n<table border=\"0\" width=\"547\" cellspacing=\"0\" cellpadding=\"0\">\n<colgroup>\n<col span=\"2\" width=\"97\" \/>\n<col width=\"101\" \/>\n<col width=\"99\" \/>\n<col width=\"78\" \/>\n<col width=\"75\" \/><\/colgroup>\n<tbody>\n<tr>\n<td width=\"97\" height=\"21\"><\/td>\n<td width=\"97\">Premium(30Ys)<\/td>\n<td width=\"101\">No of Claims Recd<\/td>\n<td width=\"99\">Claim Amount<\/td>\n<td width=\"78\">Claim paid<\/td>\n<td width=\"75\">Rejected<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Aegon Religare<\/td>\n<td>8202<\/td>\n<td>274<\/td>\n<td>16.15 cr<\/td>\n<td>66.00%<\/td>\n<td>33%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Bharti AXA<\/td>\n<td>8202<\/td>\n<td>935<\/td>\n<td>23.3 cr<\/td>\n<td>87.70%<\/td>\n<td>10.80%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Aviva<\/td>\n<td>8279<\/td>\n<td>2240<\/td>\n<td>71.5 cr<\/td>\n<td>89.50%<\/td>\n<td>9.50%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">HDFC Life<\/td>\n<td>11911<\/td>\n<td>5149<\/td>\n<td>107.23 cr<\/td>\n<td>96.17%<\/td>\n<td>3.63%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Edel TOKIO<\/td>\n<td>12921<\/td>\n<td>1<\/td>\n<td>0.05cr<\/td>\n<td>100.00%<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Bajaj Allianz<\/td>\n<td>14169<\/td>\n<td>27200<\/td>\n<td>423 cr<\/td>\n<td>90.61%<\/td>\n<td>6.28%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Kotak<\/td>\n<td>16574<\/td>\n<td>2949<\/td>\n<td>85 cr<\/td>\n<td>89.00%<\/td>\n<td>5.24%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">SBI Life<\/td>\n<td>18875<\/td>\n<td>11864<\/td>\n<td>185cr<\/td>\n<td>95%<\/td>\n<td>3.19%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Birla<\/td>\n<td>19214<\/td>\n<td>10900<\/td>\n<td>280 cr<\/td>\n<td>90.94%<\/td>\n<td>8.78%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">ICICI Pru Life<\/td>\n<td>23993<\/td>\n<td>14829<\/td>\n<td>225cr<\/td>\n<td>96.53%<\/td>\n<td>3.16%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">Max Life<\/td>\n<td>26405<\/td>\n<td>9031<\/td>\n<td>216 cr<\/td>\n<td>89.84%<\/td>\n<td>8.58%<\/td>\n<\/tr>\n<tr>\n<td height=\"21\">LIC<\/td>\n<td>37753<\/td>\n<td>731336<\/td>\n<td>6873 cr<\/td>\n<td>97.42%<\/td>\n<td>1.30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><span style=\"font-size: 13px; line-height: 19px;\">It is clear from the above table that guys like LIC and SBI have high claim payment ratios but LIC also has one of the highest premium in the market! <\/span><\/li>\n<li>Edelweiss Tokio&#8217;s stats are insignificant<\/li>\n<li>Bharti AXA, though cheap is still in its early days<\/li>\n<li>Among bigger private players, Aviva,HDFC Life and Bajaj Allianz look decent<\/li>\n<\/ul>\n<p>We will continue to provide you with updated IRDA Claim Settlement Ratio of Life Insurance Companies every year. To compare all these details online and know exact premium for the required coverage, click <a href=\"http:\/\/trucompare.in\">here.<\/a>\u00a0Please visit <a href=\"http:\/\/trucompare.in\">www.trucompare.in<\/a> to get an online premium quote delivered to your email.<\/p>\n<p><a href=\"http:\/\/trucompare.in\/\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=205%2C21\" alt=\"TruCompare_head\" width=\"205\" height=\"21\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As indicated in my earlier post, IRDA claim settlement\u00a0ratio might be an important factor in determining the best term insurance plan in India. Following is the stats for 2011-12 for \u00a0IRDA claim settlement ratio for individual death claims by insurance companies. I have tried to take some of the popular brands in the market. I &hellip; <a href=\"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">IRDA Claim Settlement Ratio of Life Insurance Companies<\/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":false,"_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":[2],"tags":[],"class_list":["post-36","post","type-post","status-publish","format-standard","hentry","category-term-insurance"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3wDt5-A","jetpack-related-posts":[{"id":592,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2014\/","url_meta":{"origin":36,"position":0},"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":[]},{"id":772,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-health-insurance-in-2014-15\/","url_meta":{"origin":36,"position":1},"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":743,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-star-health-insurance-in-2014-15\/","url_meta":{"origin":36,"position":2},"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":738,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2015\/","url_meta":{"origin":36,"position":3},"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":1339,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2016\/","url_meta":{"origin":36,"position":4},"title":"Latest IRDA Claim Settlement Ratio in 2016-17 for life insurers","author":"Trucompare","date":"November 15, 2016","format":false,"excerpt":"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\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1423,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-of-life-insurance-companies-in-2016-17\/","url_meta":{"origin":36,"position":5},"title":"IRDA Claim Settlement Ratio of Life insurance Companies in 2016-17","author":"Trucompare","date":"June 2, 2017","format":false,"excerpt":"We have been tracking IRDA claim settlement of insurers for 3+ years.Here is the latest data on IRDA claim settlement ratio of life insurers in 2016-17( for which data is available). Most of the good insurers are now having 95%+ claim settlement ratios in 2016-17. Max Life Insurance claim settlement\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/36","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=36"}],"version-history":[{"count":24,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/36\/revisions"}],"predecessor-version":[{"id":579,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/36\/revisions\/579"}],"wp:attachment":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/media?parent=36"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/categories?post=36"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/tags?post=36"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}