Term Insurance Claim Settlement Ratio is one of the important attributes to measure a company’s performance and customer satisfaction. Claim Settlement Ratio for Term Life Insurance can go to as high as 99%. Based on the latest stats, we have provided below the complete list of Claim Settlement Ratio for various Life Insurance companies in India. The Ratios provided below has … [Read more...] about Why LIC Term Insurance is Costly!
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How many Indians are covered by life insurance?
Life Insurance: Why Indians are living dangerously How many Indians are covered by life insurance? According to Irdai’s Handbook 2016-17 (Table 9A), 32.81 crore of policies are in force in the books of life insurance firms in India. Even if we assume that a few lakhs of policies were revived during the year, the total number of in-force policies will not be more than … [Read more...] about How many Indians are covered by life insurance?
Late Fee Calculation for delayed LIC Premium Payment
How to Calculate Late Fee for delayed LIC Premium Payment? Life Insurance Corporation of India(LIC) provides a certain grace period to all its customers on their policy premium payments according to the mode of payment of the policy. A grace period of 30days (30 days if mode of payment is Yearly/Half-yearly/Quarterly and 15 days if the mode is monthly) grace period to make … [Read more...] about Late Fee Calculation for delayed LIC Premium Payment