LIC's Claim Settlement Ratio Better than Pvt Insurers: IRDA

IRDA release its report about claim settlement ratio and LIC got top position in claim settlement. IRDA indicates LIC claim settlement is better than pvt. Life insurances company. Claim Settlement Ratio always play Big Factor when any one buying Life Insurance.

In year 2012-2013, total claim received by LIC was 7,50,576 & 6,20,881 claim settle within 30 days.60,040 claim settle within 90 days. In this year LIC claim settlement ratio was 97.73%. this is highest claim settlement ratio by Insurance Company. This data shows that LIC is best in the field of Life Insurance.