Business Standard

Appoint two-three key people as life policy's nominees, say analysts

Buyers should look it up to see which insurers have been quicker in settling claims.

Life Insurance
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Sanjay Kumar Singh
Not only should a life insurer settle a high percentage of the claims it receives, it should also be quick in doing so. The recently published Handbook on Indian Insurance Statistics for 2020-21 features data on duration-wise claim settlement. Buyers should look it up to see which insurers have been quicker in settling claims. However, for claims to be settled on time, policyholders and nominees, too, must fulfil their obligations.  

Fill proposal form carefully

To protect your nominees from hassles at the time of claim settlement, fill the proposal form correctly and completely.

“Don’t hide anything just because you may

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First Published: Feb 23 2022 | 6:10 AM IST

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