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Claim Settlement Ratio tells you the ability of the company to settle claims in the stipulated time period and helps you understand the history of the insurance company, thus ensuring that the insurer you select is reliable or not.
If in the set time period your company will not be able to settle claims, then the whole purpose of buying a plan from this company gets wasted.
Let’s understand with the help of an example, Mr. Ravi availed health insurance from XYZ insurance company, but at the time of his wife’s treatment his health insurance company could not settle claims on time and this caused financial stress and burden among the family members. Therefore, before opting for a health plan, always ensure that your company’s claim support is good.
As per IRDAI, the Reliance Health Claim Settlement Ratio is 98.65%. The higher the percentage of claim support, the higher the ability of the company to settle claims.
Take a look at the below table to get an insight into the claim settlement ratio of Reliance General Insurance. The comparison of the Reliance Health Insurance Claim settlement ratio for the three financial years will help you evaluate the company’s claim settling ability in the past years
Status of Reliance General Health Insurance Claim Settlement Ratio - 2021-22 | ||||||
Age Analysis of Number of Claims Paid (%) | < 3 months | 3 months to 6 months | 6 months to <1 year | 1 year to <3 year | 3 years to <5 years | 5 years |
Claims Settled | 76.36 | 7.27 | 7.27 | 5.45 | 3.64 | 0.00 |
Cashless Claim
Reimbursement Claim
To cater to the different medical needs of an individual & their family, Reliance Health Insurance offers several Health Plans ranging from senior citizen plans to specialized plans for autistic children, to health insurance for cardiac patients, and many more.Take a look below to Reliance Health Insurance plans explore more:
Individual
Reliance Health Personal Accident Policy covers individuals against accidental death and disability along with multiple other benefits like child edu...
Unique Features
Individual and Family Health Insurance
Reliance HealthWise Insurance Policy is a comprehensive health insurance plan offering all-around medical care features and benefits. The plan comes i...
Unique Features
Individual and Family Health Insurance
Health Gain Insurance Plan is a newly launched health plan by Reliance Health Insurance company. The plan allows the customers to customise their poli...
Unique Features
Individual and Family Health Insurance
Reliance Health Infinity is a comprehensive health insurance plan that comes with a number of benefits and discounts. The policy offers wide coverage ...
Unique Features
Individual and Family Health Insurance
Reliance Arogya Sanjeevani's plan is affordable and efficient. In unprecedented times, covering you and your family is a necessity. Reliance Arogya Sa...
Unique Features
Individual and Family Health Insurance
To avoid the financial stress and burden during Covid treatment, Reliance Health Insurance offers the Corona Kavach Plan that takes care of your medic...
Unique Features
Critical Illness Health Insurance
Reliance Critical Illness insurance policy caters to life-threatening and lifestyle-disabling diseases, so you are worry-free. ​Reliance Critical Il...
Unique Features
Group Health Insurance
Reliance General Group Mediclaim Insurance covers your employee's health at an economical cost and lets you enjoy tax benefits too. Reliance General ...
Unique Features
Individual
It's not an emergency if you are always prepared! Reliance Hospi-Care health insurance policy helps you prepare for unforeseen accidents and the uncer...
Unique Features
The claim settlement ratio (CSR) of the Reliance health insurance company is 86.31% as per the data of IRDAI 2022-23.
Yes. You can claim your Reliance health policy online from the official website of the company.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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February 5, 2023
Asia/Kolkata
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