POSTED BY December 22, 2013 5:33 pm ONE COMMENTON
We are planning to opt for term insurance policies, but since disability and accident riders are very important, need to decide if we should go for a single term insurance policy that contains these riders, or if we should opt for separate policies. Anyway, in our research we came across this accidental policy article, and we are wondering how claim settlement ratios are calculated – https://www.jagoinvestor.com/2011/12/accidental-insurance-policies-in-india.html
Can someone help? Thank you!
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One reply on this article “How are claims settlement ratios calculated ?”
Dear Tasha, claim ratio is very simple. Say 100 claims were filed in the Year and out of which 82 were settled for remaining 18, some were declined and some are pending. Here claim settlement ratio ‘ll be 82/100 = 82%.