New Delhi, Feb. 21 -- One of the major factors to consider while selecting an insurance company to buy a life insurance policy is the claim settlement ratio. The claim settlement ratio represents the total percentage of claims that an insurance company settles in a single year out of the complete number of claims they have received. This is a medium that represents their trustworthiness. With a higher ratio, the insurance providers stand more dependable and vice versa.

Claim settlement ratio is the number of claims that an insurance company has settled against the total number of insurance claims they have received. When a policyholder passes away, the beneficiary files a claim, and the insurance company follows specific rules to settle ...