Selecting life insurace company
Data that helps in selecting a life insurance company:-
Financial strength – A financially strong company is an ideal candidate to select as they are more likely to continue in the business and service their customers. Following is the premium collection comparison of some life insurance players in 2007 - 2008 :-
Grievances resolved – After sales service is very important to rate a life insurance player. Here is a comparison of no. of grievances resolved by life insurance players in 2007 - 2008 :-
Claims settled – Death claim applications may be paid or repudiated by life insurance companies. Higher % of claims paid and lower % of claims repudiated may be a favourable figure from customer's point of view. These figures may install confidence in customer's mind about their life insurance company. Here is a comparison of % of individual death claims paid and repudiated by life insurance players in 2007 - 2008 :-
P.S. - All data collected from IRDA annual report 2007 - 2008
