IRDAI has announced the Claim Settlement Ratio for 2020-2021 in Dec 2021. This is valid as most recent till Dec 2022, 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 IRDAI 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 indicators as of today.
In this article we will take a look at the top five term insurance plans and the associated life insurance companies. The top 5 products are from ICICI Pru Life, Max Life, HDFC Life, TATA AIA Life and Aegon Life.
Claim Settlement Ratio 2019-20
Friends, If I give you 10 seconds and ask you to write just one name of your relative or neighbor or friend who will provide the financial help to your family when you are not alive. I can bet, you will not be able to write even a single name who will help your family when you are not alive.… Continue Reading »
Many of us are now aware that a Term Plan is important, but do not know how much life insurance cover we need to protect our family financially. So we end up either buying incorrectly, sometimes even postponing our buying decision, or sometimes not buying at all, putting our families to very high risk financially. Read on to know exactly how to decide your life cover amount.
Term Insurance – meaning, definition, importance and benefits. Why is it important to buy Term Insurance in India? How can it protect our dependents and our liabilities such as a home loan?