HDFC Standard Life Claim Settlement Ratio Trend - Individual Death Claims by Amount of Claims

HDFC Standard Life Claim Settlement Ratio for Individual Death Claims by Sum Assured

Given below is a table of HDFC Standard Life’s Death Claim Settlement Ratio for Individual Policies – it does not include group policies. This is as per the Annual Report published by IRDAI every year.

The claims ratio is calculated basis the Sum Assured of  the claims which have been made and the Sum Assured of claims which have been honoured. You can understand how this has been calculated with this example for the financial year 2017-2018.

Claims by benefit amount made in the year = 544.70 crores (A)
Number of Claims paid in the year = 482.78 crores (B)

So the Individual Death Claim Settlement Ratio for the

Year 2017-2018 = (B) / (A)= 482.78 / 544.70 = 88.63%

This measure is one of the indicators one should use while selecting the life insurance company for buying a policy.

You can also check the Death Claim Settlement Ratio by Number of Claims  for each year. You can click on the link below to check those details.

In case you wish to check the ratio by number of policies – HDFC Standard Life Claim Settlement Ratio by Number of Claims.