Canara HSBC Vs Sahara India Life Insurance Comparison

Claim Settlement Ratio is the number of claims settled by an insurance company to the total number of claims received during a period. The average claim settlement ratio should be more than 95% which means that there are greater chances of your claim getting settled. Claims are the most important part of the insurance process. It is important to compare the claim settlement ratio of the insurance companies before purchasing the insurance policy. The claim settlement ratio of Canara HSBC OBC life insurance term plan is 95.22%.

The claim settlement ratio of Canara HSBC OBC Life Insurance is 97.01%. This means that the company settled 97.01% of the claims received during the year. A high claim settlement ratio is an important parameter to consider while buying a life insurance plan, as it indicates the insurer's ability to honour claims.

The Following is a Limitation of Traditional Life Insurance Product

• Life insurance can be expensive if you're unhealthy or old.
• It offers Low Coverage Amount
• If an individual surrenders his policy before the completion of the policy term, then he will only be able to recover the paid-up value.
• Traditional life insurance does not provide any coverage for pre-existing conditions

A term plan is a type of life insurance policy that provides coverage for a specified period, or 'term', of time. This type of policy pays a death benefit to the beneficiary named in the policy if the insured person dies during the term of the policy.

Term plans are often considered a cost-effective way to obtain life insurance coverage because they typically offer higher coverage amounts for lower premiums than other types of life insurance policies. Additionally, term plans provide a straightforward approach to insurance, as they do not accumulate cash value like other policies, such as whole life.

To check the fund value of your Star Union Dai-Ichi Life Insurance policy, you can follow these steps:

• Visit the Star Union Dai-Ichi Life Insurance website. Click on the login page. If you are not registered, you may need to create an account first. Then enter your login credentials, such as your username and password.
• Once you are logged in, navigate to the section that provides policy-related information or policy details.
• Within the policy details section, you should be able to find information related to the fund value of your Star Union Dai-Ichi Life Insurance policy.
• If you have any queries to check the Fund Value of Star Union Dai-Ichi Policy call customer care support. They will be able to assist you in retrieving the fund value.