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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 the LIC life insurance term plan is 98 %.
To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:
To download a LIC life insurance policy statement, you typically need to follow the below steps.
LIC Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
To determine the fund value of LIC life insurance, you'll need to follow the below steps.
To check the surrender value of a LIC life insurance policy, you can follow the below steps:
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