Life Insurance vs Term Life Insurance – Which Has Higher Claim Settlement Ratio?
New Delhi [India], March 24: Your family buys insurance trusting it will help them when needed. But what if the claim gets rejected?This fear is real. People worry about claim settlement ratios before buying any policy.So which performs better – traditional life insurance or term life insurance?What Claim Settlement Ratio MeansThis number tells you how many claims an insurer approved out of total claims received.If a company got 1000 claims and approved 950, their ratio is 95%. Higher percentage means better chances your family gets the money.Insurance companies publish these numbers every year. You can check them before buying.The Surprising TruthHere’s what most people don’t know. The type of policy doesn’t matter much.Whether l...