Private insurance company claim settlements facts

Did you like life insurance policy of private insurance company?  But you do not have details of these insurance company’s claim settlements. Or you do not trust private insurance company’s track records.

It’s best advised to check private insurance company’s track record before taking their policies. I will show you how you can see their claim settlement details on their respective website via IRDA website.

1)      Please visit IRDA website > Public disclosures
For life insurance company
For non life insurance company (General insurance)
2) Open respective insurance company’s website and select appropriate financial year (in some case)
3)      Click on Link L-40 Claims Data. This file contains all data like Death Claim, Maturity Claim, Survival Benefit, Annuities/ Pension, Surrender Claim, Health Claim, Other Benefits
4)      Click on Link L-39 Claims Ageing to see how long it takes to settle different kind of claims.
5)      Access any other document you think will be helpful to take your decision correctly

You can trust these data and take your decision to whether I should opt for this private insurance company.  At least you should check L-40 Claims Data of private insurance company. You can compare it with any well known insurance company

Summary: Do your research for hidden conditions of policy and claim settlements. Make sure your nominee is aware about your policy documents.
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