Max Life Insurance on Tuesday reported a 33% jump in death claim settlements to more than ₹885 crore for FY21.
The private sector insurer said its claim settlement ratio also touched an all-time high at 99.35% during the year. It represents the ratio of the number of claims paid against the number of claims filed during a particular time-frame.
Max Life Insurance has paid 19,922 death claims worth ₹885.57 crore during the financial year 2020-21. With this, the company said it had achieved an all-time high individual death claims paid ratio of 99.35.