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Insurance — Advanced
Always check claim settlement ratio (>95% for life, >90% for health) before buying any insurance policy.
Concept
Always check claim settlement ratio (>95% for life, >90% for health) before buying any insurance policy.
Claim settlement ratio (CSR) is the percentage of claims a company pays vs total claims received. IRDAI publishes this annually. For life insurance, top companies settle 98-99% of claims. For health insurance, look at incurred claim ratio (claims paid vs premiums collected) alongside CSR. Also verify: (1) average claim processing time (<30 days is ideal), (2) cashless network hospitals in your city, (3) grievance ratio (complaints per 10,000 policies).
हिंदी मेंClaim settlement ratio (CSR) = company कितने percent claims pay करती है। IRDAI हर साल publish करता है। Life insurance में top companies 98-99% claims settle करती हैं। Health insurance में CSR के साथ incurred claim ratio भी देखें। यह भी verify करें: (1) average claim processing time (<30 days ideal), (2) अपने city में cashless hospitals, (3) grievance ratio (complaints per 10,000 policies)।
Example
See it in action
Company A: premium ₹12,000, CSR 97%, 400 cashless hospitals in your city. Company B: premium ₹9,000, CSR 82%, 50 cashless hospitals. You save ₹3,000/year with B, but when you file a ₹5L claim — Company A pays cashlessly, Company B rejects citing a sub-limit you missed.
हिंदी मेंCompany A: premium ₹12,000, CSR 97%, आपके city में 400 cashless hospitals। Company B: premium ₹9,000, CSR 82%, 50 cashless hospitals। B से ₹3,000/year बचते हैं, लेकिन ₹5L claim — A cashless pay करता है, B reject कर देता है sub-limit cite करके।
Key takeaway
Remember this
Insurance is only as good as its claim payout. Check CSR on IRDAI's website, not the agent's word.
The cheapest premium isn't the best policy — a company that rejects 20% of claims will cost you far more when you actually need it.
हिंदी मेंInsurance उतनी ही अच्छी जितनी claim payout। CSR IRDAI website पर check करें, agent की बात पर नहीं।
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