Page 71 - Life Insurance Today July - December 2020
P. 71
(Benefit Amount in Rs. crore) Break up of claims pending - duration wise (Policies) Total >12 6 - 12 3-<6 <3 Months months months 0 0 0 0 0 0 0 0 0 0 36 0 0 2 34 100% 5.56% 2 0 0 1 1 100% 50.00% 0 0 0 0 0 11 3 0 2 6 100% 27.27% 18.18% 27 0 5 0 22 100% 18.52% 7 0 0 0 7 100% 0 0 0 0 0 6389 29 342 530 100% 0.45% 5.35% 8.30% 19070 0 0 109 100% 0.57% 25459 29 342 639 100% 0.11%
STATUS OF GROUP DEATH CLAIMS OF LIFE INSURERS (FY 2019-20) (Contd......)
Claims pending at end of the period Benefit No. of months Amount Policies 0.00 0 0.00% 0.00 0 0.00% 5.53 36 94.44% 1.47% 0.05% 0.11 2 50.00% 0.44% 0.06% 0.00 0 3.82 11 54.55% 0.41% 0.04% 1.50 27 81.48% 0.77% 0.11% 0.17 7 100.00% 0.14% 0.12% 0.00 0 0.00% 5488 95.53 6390 85.90% 1.37% 0.79% 18961 256.58 19070 99.43% 5.26% 8.75% 24449 352.11 25460 96.03% 2.98% 2.48%
Benefit Amount 0.00 0.26 0.12% 0.12 0.03% 0.01 0.03% 0.00 0.78 0.08% 0.00 0.00 0.00 1.19 0.02% 0.00 1.19 0.01%
Claims Unclaimed No. of Policies 0 2 0.04% 26 0.04% 3 0.09% 0 15 0.05% 0 0 0 47 0.01% 0 47 0.00%
Benefit Amount 0.00 0.00 0.81 0.22% 0.10 0.41% 0.00 0.00 0.00% 1.48 0.76% 0.80 0.64% 0.00 5.17 0.07% 0.00 5.17 0.04%
Claims rejected No. of Policies 0 0 19 0.03% 9 0.28% 0 2 0.01% 52 0.21% 398 6.60% 0 497 0.06% 0 497 0.05%
Benefit Amount 9.69 4.10% 4.69 2.20% 21.71 5.77% 1.22 4.84% 0.00 27.16 2.89% 3.10 1.59% 0.53 0.43% 0.32 0.25% 167.96 2.42% 1.82 0.04% 169.78 1.43%
Claims Repudiated No. of Policies 61 0.47% 31 0.63% 229 0.32% 10 0.31% 0 284 1.02% -164 -0.68% 14 0.23% 6 1.13% 1664 0.21% 382 0.18% 2046 0.20%
Benefit Amount 226.46 95.90% 207.80 97.67% 348.32 92.52% 23.77 94.28% 0.00 100.00% 907.73 96.62% 188.86 96.88% 123.32 98.79% 127.18 99.75% 6684.38 96.12% 4621.72 94.70% 11306.09 95.54%
Claims paid No. of Policies 12788 99.53% 4857 99.33% 71858 99.57% 3163 99.25% 1 100.00% 27466 98.88% 24368 100.35% 5614 93.05% 527 98.87% 799400 98.94% 198532 91.08% 997932 97.27%
Benefit Amount 236.15 100% 212.75 100% 376.49 100% 25.22 100% 0.00 100% 939.49 100% 194.94 100% 124.83 100% 127.50 100% 6954.22 100% 4880.13 100% 11834.34 100%
Total Claims No. of Policies 12849 100% 4890 100% 72168 100% 3187 100% 1 100% 27778 100% 24283 100% 6033 100% 533 100% 807998 100% 217984 100% 1025982 100%
Claims intimated / booked Benefit No. of Amount Policies 236.15 12849 212.75 4890 369.82 71908 25.07 3183 0.00 1 938.78 27764 193.29 24252 124.79 6031 127.50 533 6911.43 805618 4872.65 217196 11784.07 1022814 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 0.00 0 0.00 0 6.67 260 0.14 4 0.00 0 0.71 14 1.64 31 0.04 2 0.00 0 42.79 2380 7.48 788 50.27 3168
Insurer Max Life PNB Met Life Pramerica Life Reliance Nippon Sahara SBI Life Shriram Star Union Tata AIA Private Total LIC Industry Total
S. No. 15 16 17 18 19 20 21 22 23
Life Insurance Today July - December 2020 71
