IRDA has announced the Claim Settlement Ratio for 2017-2018 in Dec 2018. This is valid as most recent till Dec 2019, when the next year’s data will be published by the Regulator. If you are looking for a term insurance plan, you MUST know the IRDA Claim Settlement Ratio (CSR) before making the decision. At this point, we must tell you that in spite of the fact that overall CSR is NOT the best way to decide on your term insurance plan, you cannot ignore it because it is one of the best available … [Read more...] about Claim Settlement Ratio for Term Insurance by IRDA : 2017-2018
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The Best Term Plans of 2019
Now the question was to identify the right companies that my family could rely on when I was no longer there. I was considering purchasing more term insurance. I had a cover of 2 Crore but had realized that it was too less. The first thing I did was to go to mintwise.com to check out the products with the lowest premium for my age profile. Unsurprisingly, smaller or newer companies offered products with lower premium. Names like HSBC Canara, Edelweiss Tokio Life, Future Generali were visible on … [Read more...] about The Best Term Plans of 2019
Claim Settlement Ratio for Term Insurance by IRDA : 2016-2017
IRDA has announced the Claim Settlement Ratio for 2016-2017 in Dec 2017. This is valid as most recent till Dec 2018, when the next year’s data will be published by the Regulator. If you are looking for a term insurance plan, you MUST know the IRDA Claim Settlement Ratio (CSR) before making the decision. At this point, we must tell you that in spite of the fact that overall CSR is NOT the best way to decide on your term insurance plan, you cannot ignore it because it is one of the best available … [Read more...] about Claim Settlement Ratio for Term Insurance by IRDA : 2016-2017
WHAT IS TERM INSURANCE?
Term Insurance is a product for risk coverage. In other words, it’s a product to mitigate risk for a term, generally a year. Now the question is - risk of what? Risk is everywhere and for everything in our whole existence. The essential risks that common people try to cover through insurance are: Risks related to Loss of Life; Health Issues; Loss of Assets like moveable or immoveable Property; Running Vehicle; Overseas Travel; and Trade. Of these, some of the insurances are compulsory in … [Read more...] about WHAT IS TERM INSURANCE?
Claim Settlement Ratio for Term Insurance by IRDA : 2015-2016
MintWise has also published Claim Settlement Ratio for Term Insurance by IRDA : 2016-2017 which has the latest data. IRDA has announced the Claim Settlement Ratio for 2015-2016 in Dec 2016. This is valid as most recent till Dec 2017, when the next year's data will be published by the Regulator. If you are looking for a term insurance plan, you MUST know the IRDA Claim Settlement Ratio (CSR) before making the decision. At this point, we must tell you that in spite of the fact that overall … [Read more...] about Claim Settlement Ratio for Term Insurance by IRDA : 2015-2016
Online Term Plan – The Right Way to Buy
One cannot afford an error when buying a online term plan. That's because by the time one realizes it was wrong, she/he is already dead and gone and it is the nominee who would go through the pain of getting the claim amount. While most insurance companies will settle without any issues, some others may take a while or have reasons for rejection which one may not have considered significant at the time of buying the online term plan. And it is not worth making that mistake, right? So … [Read more...] about Online Term Plan – The Right Way to Buy