We Design Your Financial Destiny

(Precious) Words of Wisdom : "The art is not in making money, but in keeping it." ~ Proverb

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?

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

101 Classic Tips Money Gyaan

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
Powered by Blogger.

... Three VALUABLE Tips ...

1. Why Did The Beggar Refuse A Rs.2000 Note?
Mutual Funds or Beggar?
Do you keep your eyes closed to new investment styles and remain a beggar?


2. Refinance Home Loan In Early Years (For Maximum Gains)
Loan Refinancing
Think before you make your move to refinance your loan.


3. Prediction is Impossible. Here's The Best Way To Invest In Equity.
Equity Investing Rules
Therefore, the best way to make money in the future is Protection.