Buying a term plan? Go by hard numbers while selecting a life insurer

Avoid insurers with large difference in claims settled by number of policies and by benefit amount

Life Insurance

Sanjay Kumar Singh New Delhi
Zeroing in on the right insurer when buying a term policy is not easy. A lot of hard-selling occurs. Agents highlight a variety of policy features that leave the buyer confused. However, the key quality that one looks for in a term policy is that it will pay out the claim when it arises, and do so without delay. By using a few performance-related metrics, which you can obtain from the Insurance and Regulatory Development Authority of India’s (Irdai’s) recently published annual report for 2020-21, you can quickly narrow down on the best insurers.      


The annual report contains figures on premium underwritten by life insurers in 2020-21 (statement three, page 131). “The size of premium collected demonstrates

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First Published: Jan 13 2022 | 4:37 PM IST

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