The need for life insurance is to get financial security in case something happens to the policyholder. While buying a life insurance policy, most look at the premium they need to pay and choose an insurance policy. However, that’s where most policyholders make the mistake – the moment of truth for a life insurance company is at the time of settling a claim.
The claim settlement ratio of a company is an indicator of the number of claims they have settled over the intimations received by the insurance company.
