Life insurers in India paid out ₹45,817 crore ($6.2bn) in individual death claims involving 1.58 million policies during the 2021-2022 financial year, according to data from the Insurance Regulatory and Development Authority of India. The death claim settlement ratio rose to 98.64% in the year, from 98.39% previously, and the repudiation/rejection ratio decreased to 1.02% from 1.14%. However, beneficiaries of insurance policies face challenges when it comes to filing claims and managing the pr...
Life insurers in India paid out ₹45,817 crore ($6.2bn) in individual death claims involving 1.58 million policies during the 2021-2022 financial year, according to data from the Insurance Regulatory and Development Authority of India. The death claim settlement ratio rose to 98.64% in the year, from 98.39% previously, and the repudiation/rejection ratio decreased to 1.02% from 1.14%. However, beneficiaries of insurance policies face challenges when it comes to filing claims and managing the pr...
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