Page 69 - Life Insurance Today July - December 2020

(Benefit Amount in Rs. crore) Break up of claims pending - duration wise (Policies) Total >12 6 - 12 3-<6 <3 Months months months 1 0 0 0 1 100% 0 0 0 0 0 2 0 0 0 2 100% 2 0 0 0 2 100% 46 0 0 2 44 100% 4.35% 36 0 5 16 15 100% 13.89% 44.44% 5 0 0 0 5 100% 3 0 0 0 3 100% 0 0 0 0 0 319 11 16 32 100% 3.45% 5.02% 10.03% 5875 0 0 2731 100% 46.49% 6194 11 16 2763 100% 0.18% 0.26

STATUS OF INDIVIDUAL DEATH CLAIMS OF LIFE INSURERS (FY 2019-20) (Contd......)

Claims pending at end of the period Benefit No. of months Amount Policies 0.02 1 100.00% 0.00% 0.01% 0.00 0 0.00% 0.22 2 100.00% 0.95% 0.35% 0.57 2 100.00% 0.34% 0.02% 0.58 46 95.65% 9.38% 7.03% 7.78 36 41.67% 0.86% 0.16% 0.12 5 100.00% 0.13% 0.16% 0.72 3 100.00% 1.35% 0.24% 0.00 0 0.00% 260 104.96 319 81.50% 1.83% 0.28% 3144 349.69 5875 53.51% 2.55% 0.77% 3404 454.65 6194 54.96% 2.34% 0.7

Benefit Amount 0.00 0.00 0.00 0.00 0.00 5.52 0.61% 0.00 0.00 0.00 7.62 0.13% 339.70 2.48% 347.32 1.79%
Claims Unclaimed No. of Policies 0 0 0 0 0 40 0.18% 0 0 0 54 0.05% 10936 1.44% 10990 1.26%

Benefit Amount 0.00 0.00 0.00 0.00 0.00 0.03% 0.00 7.32 7.78% 0.00 0.00 18.32 0.32% 2.08 0.02% 20.40 0.11%

Claims rejected No. of Policies 0 0 0 0 13 1.99% 0 58 1.89% 0 0 90 0.08% 2172 0.29% 2262 0.26%

Benefit Amount 32.88 5.52% 34.45 12.78% 0.77 3.28% 9.43 5.64% 0.18 2.95% 79.37 8.79% 8.66 9.21% 2.10 3.93% 9.49 4.09% 350.08 6.11% 205.02 1.50% 555.10 2.86%
Claims Repudiated No. of Policies 120 0.78% 123 2.82% 7 1.23% 149 1.86% 10 1.53% 1157 5.14% 195 6.34% 35 2.80% 28 0.94% 2803 2.42% 6124 0.81% 8927 1.02%

Benefit Amount 562.54 94.48% 235.11 87.22% 22.44 95.78% 157.03 94.01% 5.44 87.64% 810.71 89.74% 77.88 82.88% 50.47 94.71% 222.47 95.91% 5244.39 91.60% 12797.85 93.45% 18042.24 92.91%
Claims paid No. of Policies 15342 99.22% 4241 97.18% 560 98.42% 7866 98.12% 585 89.45% 21257 94.52% 2816 91.61% 1210 96.96% 2954 99.06% 112667 97.18% 733809 96.69% 846476 96.76%

Benefit Amount 595.43 100% 269.56 100% 23.43 100% 167.03 100% 6.21 100% 903.38 100% 93.98 100% 53.29 100% 231.96 100% 5725.37 100% 13694.34 100% 19419.71 100%
Total Claims No. of Policies 15463 100% 4364 100% 569 100% 8017 100% 654 100% 22490 100% 3074 100% 1248 100% 2982 100% 115933 100% 758916 100% 874849 100%

Claims intimated / booked Benefit No. of Amount Policies 593.84 15460 269.56 4364 23.14 567 166.13 8013 5.97 638 898.75 22462 91.82 3035 52.96 1243 231.96 2982 5669.40 115707 13558.42 758125 19227.82 873832 Note: First row across each insurer shows the absolute figures whereas second row shows percentage of the respective total claims.

Claims pending at start of the period Benefit No. of Amount Policies 1.60 3 0.00 0 0.30 2 0.91 4 0.24 16 4.63 28 2.16 39 0.33 5 0.00 0 55.96 226 135.92 791 191.88 1017

Insurer Max Life PNB Met Life Pramerica Life Reliance Nippon Sahara SBI Life Shriram Star Union Tata AIA Private Total LIC Industry Total

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Life Insurance Today July - December 2020 69