On number of occasions on this forum, readers have mentioned that claim ratio of private life insurance companies are low. IRDA webiste just gives claim ratio percentage. They did NOT mention the reasons of same. The reason can be from customer side also on giving wrong information in application form e.g. pre-existing disease like Cancer, AIDS etc.
So, is there any authentic source where we can FIND out why life insurance companies including LIC are rejecting claim even if it is 2% of total claims.
Thanks