Truth Speaker Mitra (@SubhajitMitra) 205 Followers 21 Nov

Insurance 697 2

Check the claim settlement ratio of your Insurance provider– Avoid the "Ashwathama Hatha iti narova kunjarova" trick of Mahabharata.

As we know in the Mahabharata war, 'Ashwathama hatha( Ashwathama killed)' told in a high voice and 'iti narova kunjarova(an elephant) ' in a low voice to win the war by dodging.

Similarly, some insurance personnels try to win the race with hidden clauses to refute claims,' written in 'low voice' with your t&c paper. Handling claim settlement is one of the main issues with purchasing an insurance policy. 

A trustworthy metric required by India's insurance regulation for public disclosures is the claims paid ratio. The life insurer and the insurance policy may or may not be the best options for you based on this ratio.

A claims settlement ratio is a calculating statistic that helps in understanding how many claims were paid relative to how many claims were received by the insurer. This percentage aids in determining the insurer's intention to provide insurance claim payment.

In contrast to one with a low claim-paid ratio, a high ratio shows that the approval and claims process is solid.

India's top private and public players have settlement record of nearly 95%+, don't worry IRDAI is with you!


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