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Before zeroing down on any Term Insurance plan, it is essential for you to have a thorough knowledge of the company's performance in the past. One prominent factor that will help you majorly in evaluating the company's performance is its Claim Settlement Ratio (CSR). The CSR of the company speaks about the company's ability to settle claims for its customers in a given financial year. It is important to have a good CSR ratio as an insurance provider as it denotes how trustworthy the insurance company is towards its customers.
Through this article, we will throw some light on what is a CSR, its importance and the ICICI Term Insurance claim settlement ratio.
A claim settlement ratio also known as (CSR), is the percentage of total claims that an insurance company settles in a year. It denotes how seriously a health company takes the claims of its customers. The greater the ratio, the more dependable the insurance company is in general.
As per IRDAI, ICICI Prudential Term Insurance Claim Ratio is 97.90%. Out of 1,79,098 claims raised, the company reportedly settled 1,75,387 claims with a benefit amount of INR 941.35 Cr.
On the official website of the Insurance Regulatory and Development Authority of India (IRDAI), you can easily locate and check the ICICI Term plan claim settlement ratio. To make the task of checking the ICICI Term insurance claim settlement ratio easier and evaluate the company's claim settling performance, take a look at the below given graph.
ICICI Prudential Life Insurance Claim Settlement Ratio
The policyholders can raise a claim for their policy in the following four ways:
We've created a step-by-step approach for making a claim with the firm online for your convenience. Check it out below.
The company will investigate the claim and, after the appropriate documentation has been received, will make a decision within 12 days. Payment will be paid to the bank account number provided.
Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.
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Allahabad
April 8, 2024
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Chennai
April 8, 2024
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Bhopal
April 8, 2024
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Gandhinagar
April 8, 2024
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Sneha Nath
Mumbai
March 28, 2024
I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.
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Chennai
March 28, 2024
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Goa
March 18, 2024
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Gandhinagar
March 18, 2024
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Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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