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Broadly you can choose from Life Insurance and General (non-life) Insurance to meet your insurance needs and get yourself and your family secured against life’s uncertainties.
Life Insurance
Life insurance ensures financial security for your family, after your unfortunate demise. It pays Sum Assured amount as a lumpsum to the beneficiary that will help your family meet all their financial needs, in your absence.
Claim Settlement Ratio of Life Insurance Companies in India
Life Insurance Companies | Claims Settlement Ratio (FY 2019-20) |
Aditya Birla Sun Life | 92.41% |
Aegon Life | 93.63% |
Aviva Life | 96.94% |
Bajaj Allianz Life | 93.55% |
Bharti AXA Life | 95.75% |
Canara HSBC OBC Life | 92.42% |
Edelweiss Tokio Life | 66.35% |
Exide Life | 87.94% |
Future Generali India Life | 90.10% |
HDFC Life | 92.58% |
ICICI Prudential Life | 91.64% |
IDBI Federal Life | 89.27% |
India First Life | 88.88% |
Kotak Mahindra Life | 88.22% |
Max Life | 94.48% |
PNB Met Life | 87.22% |
Pramerica Life | 95.78% |
Reliance Nippon Life | 94.01% |
Sahara Life | 87.64% |
SBI Life | 89.74% |
Shriram Life | 82.88% |
Star Union Dai-ichi Life | 94.71% |
Tata AIA Life | 95.91% |
LIC | 93.45% |
(IRDAI annual report FY 2019-20)
General Insurance
General (non-life) Insurance provides coverage against unforeseen contingencies that occur to your health, motor, travel, home, fire, marine, and other assets which are not covered under life insurance.
Claim Settlement Ratio of General Insurance Companies in India
Private Sector Insurers | Claims Settlement Ratio (FY 2019-20) |
Acko General | 60.33% |
Bajaj Allianz General | 70.74% |
Bharti AXA General | 78.33% |
Cholamandalam MS General | 74.99% |
Edelweiss General | 114.70% |
Future Generali | 59.66% |
Go Digit | 75.00% |
HDFC Ergo | 77.20% |
ICICI Lombard | 72.86% |
IFFCO Tokio General | 88.61% |
Kotak Mahindra General | 68.80% |
Liberty General | 72.42% |
Magma HDI General | 84.35% |
Navi General (earlier, DHFL General) | 66.52% |
Raheja QBE | 75.19% |
Reliance General | 83.65% |
Royal Sundaram | 85.03% |
SBI General | 71.12% |
Shriram General | 65.04% |
Tata AIG General | 77.44% |
Universal Sompo | 73.41% |
Public Sector Insurers | Claims Settlement Ratio (FY 2019-20) |
National Insurance | 105.86% |
New India Assurance | 91.43% |
Oriental Insurance | 102.34% |
United India insurance | 101.46% |
Specialized Insurers | Claims Settlement Ratio (FY 2019-20) |
AIC | 115.42% |
ECGC | 115.34% |
Standalone Health Insurers | Claims Settlement Ratio (FY 2019-20) |
Aditya Birla Health | 49.08% |
HDFC ERGO Health (earlier, Apollo Munich) | 73.69% |
Manipal Cigna | 61.64% |
Max Bupa | 53.51% |
Reliance Health | 62.17% |
Religare Health | 59.13% |
Star Health | 65.91% |
(IRDAI annual report FY 2019-20)