Tag Archives: term plan claim settlement ratio

Term Plan: Best Term Insurance Plans in India

Term Insurance Plans: There are many term insurance plans in India, but all of them have different premiums and features which confuses a prospective customer to choose the best term plan for him.

There are various factors which help customers to choose the Best Term Plan for him:

Claim Settlement Ratio (2011-12):

There are 23 Life Insurance Companies and every company has different Claim Settlement Ratio. Depending on claim ratio, you can choose from which company you can buy a Term Plan which will help you in your future.

Company Name

Claim Settlement Ratio (2011-12)

LIC

97.4%

ICICI Prudential

96.5%

HDFC Life

96.2%

SBI life

95.5%

Kotak

92.1%

Birla Sun Life

90.9%

Bajaj Allianz

90.6%

Max Life Insurance

89.8%

Aviva

89.6%

ING Vysya

88.8%

Bharti Axa

87.7%

Star-Union Dai-ichi

86.2%

Reliance

84.6%

Tata AIA

83.9%

India First

82.2%

PNB Metlife

81.4%

Canara HSBC

80.6%

Sahara Life Insurance

78.0%

Future Generali

68.1%

IDBI Federal

67.5%

Aegon Religare

66.1%

DLF Pramerica

24.5%

Edelweiss Tokio

100% (Just 1 policy)

(Source- IRDA Annual report 2011-12)

Term Insurance Plan Riders: With every product there is rider available to add extra benefit in your policy. Before buying a policy go through all the riders and see which rider will benefit you the most. Some of the riders are Critical illness Riders, Disability Rider etc.