The Most Authentic Guide on Personal Finance and Investments

Words of Wisdom : "Failing to plan is planning to fail." ~ Alan Lakein   Write to us NOW !!!
Because, at The Wealth Architects "Honesty is NOT the best policy, it is the ONLY policy."

Are individual insurance policy holders being discriminated against?

Some time back I had shared with you the data on the claim settlement record of various life insurance companies [See 'Does the claim settlement record of your insurer inspire confidence?'].

This was pertaining to the death claims lodged by individual policy holders during the financial year 2012-13. As you would have noted, out of 24 insurers
... 6 companies had a claim settlement ratio exceeding 90%
... 12 insurers featured in the 80-90% band
... and 6 had a settlement ratio less than 80%.

I  now share with you the data on death claims lodged under group insurance policies for the same period.


Aegon Religare44100%
Aviva   2406238999.29%
Bajaj Allianz469244592297.86%
Bharati Axa757093.33%
Birla Sunlife1538153099.48%
Canara HSBC16015496.25%
DLF Pramerica463473.91%
Edelweiss Tokio222195.45%
Future Generali125421070.85%
HDFC Standard1529152699.80%
ICICI Prudential3650359398.44%
IDBI Federal84777891.85%
India First2601244093.81%
ING Life26625896.99%
Kotak Mahindra8783869098.94%
Max Life140271389899.08%
PNB Metlife2206211595.87%
Reliance Life4648464199.85%
SBI Life114991118797.29%
Sriram Life37463746100%
Star Union Dai-Ichi73769794.57%
Tata AIA1711151688.60%


As you would observe
... only 2 companies record less than 80% claim settlement ratio
... one is in the high 80s at 88.6%
... and all others exceed the 90% level; in fact 98-99% is quite common and 3 hit 100% mark.

This vast difference between the experiences of the individual and group policy holders makes me wonder...
... Whether the group insurers are getting a better deal due to their financial muscle?
... Does the aam policy holder has to suffer just because he is aam?

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Books by Sanjay Matai
[Click on the Pic for more info on my books.]
Powered by Blogger.
The Intelligent Investor
Eat That Frog!
One-Page Financial Plan
... A M A Z O N   L I N K S ...


1. Which Is The Best Day To Invest Your Money?
Best Day for Investment
My "unique" take on the auspicious days to make the best investments.


2. Swachh Portfolio: 4 Tips To Clean Up Your Finances This Diwali
Clean up your Finances and Investments
The "4 R" formula for a quick and efficient cleaning up of your personal finances.


3. Misconceptions About Insurance Are Extremely Worrying
Insurance Myths
Are you seeing problems where none exist?