It always a question which is good insurance company for claim settlement and good for buying. More over all indian insurance company doing publicity that they have better insurance plan than others.
Customer get confused while taking decision to select any one.It is the best way to recognize the best insurance company in india by Reading death claim settlement Chart from IRDA portal.
Observation From IRDA CHART on death claim:
- Private Companies has repudiated claims under 4328 policies out of 108904 policies (3.97) against just 4958 policies out of 739082 policies (0.673%) by LIC of lndia .
- Persentage of Claim Amount Repudiated by Private Companies is 7.79% against just 1.71% by LIC of India; this shows that more High Sum Assured claims are being repudiated by private companies.
For example:
HDFC Life-8.59%
Bajaj Allianz – 7.34%
SBI life-5.56%
ICICI Prudential- 5.56%
For some of the other compaines’repudiation percentage ( % )is even higher. Refer above chart.