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