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Latest claim settlement ratios of all Indian life insurance companies in 2025
However, buying a life insurance plan could all be in vain, if you your insurer does not honor the claims made by policyholders. How can you figure out if your life insurance company makes timely payouts on claims made by its policyholders? What percentage of the total claims received by the insurer during the year does it pay and how much is delayed?
To understand how effective your life insurer is in claim settlement, you can take help of the claim settlement ratio. Insurance watchdog IRDAI (Insurance Regulatory and Development Authority of India) annually releases a handbook of Indian Insurance Statistics detailing the claim settlement ratios of all life insurers in the country.
What is a claim settlement ratio?
Claim settlement ratio refers to the percentage of claims that an insurance company honors, or pays, out of the total claims that it receives during a particular period. For instance, if an insurer has a claim settlement ratio of 95% for a 30 days settlement, it means that the company likely honours 95 claims out of every 100 claims it receives from policyholders within 30 days of receiving the claim.
Claim settlement ratio can help you gauge how likely it is that an insurer will honour, or pay you, if you make a claim. As a rule of thumb, a higher claim settlement ratio, i.e. closer to 100%, is positive, since it indicates that the insurer is trustworthy, and honours almost all claims made by policyholders in the shortest possible window of 30 days.
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