IRDA

Insurance claim

Insurance Claim Rejected? Here’s what you need to do …

An insurance policy is bought to secure the future, but what happens if the insurance claim gets rejected? Here are the steps one needs to follow: 1. Approach the insurance company · Reach out to the Grievance Redressal Officer (GRO) of the insurance company · Provide the complaint in writing along with the necessary support …

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Term insurance

Term insurance a must; But lowest premium not necessarily the best

Term insurance plan is a necessity for an individual who has dependents or a family. It is the basic form of life insurance where a fixed sum assured is paid on the death of the policyholder. In case of survival of policy term, the insured doesn’t get anything in return. It works on the basic …

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LIC claim

LIC claim settlement better than private insurers: IRDA

Private insurance companies fared poorly in terms of settlement of death claims in 2012-13 as compared to state-owned LIC, says sectoral regulator IRDA. “The claim settlement ratio of LIC was better than that of the private life insurers,” Insurance Regulatory and Development Authority said in its annual report. Life Insurance Corporation posted claim settlement ratio …

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