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Sunday 28 November 2021

Best Health Insurance Companies In 2021 Based On Claim Settlement Ratio

The right choice of an insurance plan is a carefully thought-out decision that must be handled with the utmost care. Not only does it involve much of your finances but also covers situations and provides benefits that the policyholder would have to suffer otherwise. Therefore, several factors must be considered in order to choose the best health insurance plan.

Among such factors, the claim settlement ratio is one of the most important factors. It is especially relevant for health insurance plans where payouts and cover are needed within a short period of time. Read on to find the best health insurance companies in 2021, based on the claim settlement ratio.
What is the Claim Settlement Ratio?

The claim settlement ratio tells about the number of claims that have been filed against the insurance policy. It indicates the number of claims that have been rejected (or accepted) by the insurance company. The higher the ratio, the more claims have been approved by the insurance company and the better is the plan.

A lower claim settlement ratio indicates that more claims have been rejected by the insurance company than have been accepted. This is of course not an ideal statistic. Therefore, make sure to take a look at the claim settlement ratio before settling on a plan. It is released by the Insurance Regulatory and Development Authority of India (IRDAI).

મોદી સરકારે ખેડૂતોને શું ભેટ આપી તે જોવા માટે અહીંયા કલીક કરો

રાજ્ય સરકારે પોતાના સરકારી કર્મચારીઓ માટે મોંઘવારી ભથ્થુ 28%થી વધારી 31% કરયુ જોવા માટે અહી ક્લિક કરો

Best Health Insurance Companies In 2021 Based On Claim Settlement Ratio

To help you with your choice, here is the list of the best health insurance companies and their claim settlement ratios.
When Can I Make A Claim?

In the event of the unfortunate demise of the policyholder, before the policy period is over, the nominee can file for claims. There are multiple benefits paid out as a part of this claim, most importantly, the death benefit.

Different companies have different protocols to file for claims. However, generally, you are required to show authentic and verified documents to prove that the policyholder has passed away. Any discrepancies or frauds revealed during this process (including any lie in the initial application), may lead to your claim getting rejected.

It is always important to carefully look into all factors if you want to get the best health insurance policy for yourself. Make sure to browse through various options and look into all factors for every plan, in order to get the right health insurance plan.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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