Prices Increasing soon Prices Increasing Soon

Edelweiss Tokio Life Insurance Claim Settlement Ratio

Edelweiss Tokio Life Insurance is one of the leading financial services, focusing on identifying customers' financial requirements and offering suitable solutions.

Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What is Claim Settlement Ratio?

Since human life may have to face unforeseen emergencies like- death, injury, temporary or permanent disability, it is prudent to have a Life Insurance plan for difficult times.  Before buying a life insurance plan, one has to ensure that he chooses the right company, so one significant factor is checking the claim settlement ratio. 

Among the uncertainties of life, one may have to face some devastating circumstances. Keeping this in mind, the breadwinner has to provide financial security to the family. A life insurance policy is a perfect solution to deal with the family's unforeseen fear and financial needs. The beneficiaries can avail of all earnings of the policy after claim settlement. Claim Settlement Ratio is an essential aspect of any insurance company; it represents the company's reliability and risk management ability as to how the company has tackled issues that are not genuine.

It represents the percentage of claims the insurance company has paid out to the policyholders. Claim Settlement Ratio is defined as the number of claims settled divided by the total number of claims filed in one financial year. The total claims received include both the number of claims reported and claims pending at the beginning of the year.

Understanding the Edelweiss Tokio Life Insurance Claim Settlement Ratio

Edelweiss Tokio Life Insurance Claim Settlement Ratio shows a prompt service in regards to genuine claim settlement with a hassle-free, fair and transparent process. This ratio is the reflection of the reliability and consistency of the company. It brings forth the number of claims settled on some claims received over some time. 

The Insurance Regulatory & Development Authority of India (IRDAI) analyses the claim settlement ratio of all insurance companies in India and publishes a report. The Edelweiss Tokio Life Insurance Claim Settlement Ratio is 97.0%

While choosing the Life Insurance company, one must check the CSR ratio if it is higher. The higher the CSR ratio reflects, the higher number of claims settled. Edelweiss Tokio CSR is calculated in this way:

Claim Settlement Ratio= (Total claims settled/ Total claims received) x 100

Wrapping it Up

A claim settlement ratio lets people know the percentage of claims a company has paid in one financial year. Generally, it is measured not only for Life insurance plans but also other products such as Annuity products, medical insurance, child insurance products and term insurance plans. 

Thus it sometimes becomes difficult to judge the consistency of the services in the company. It is also recommended that while selecting an insurance company, you analyse the CSR percentage and the average time the company takes to settle the claims and the number of pending and rejected claims.

FAQ's

  • While filing a claim, which document is essentially required?

    A1. While filling a claim, the original insurance bond is required; however, the company will send a letter about the required documents.
  • How long does it take for the claim settlement?

    A2. Edelweiss Tokio promises to settle the claim within 24 hours after receiving all required documents.
  • Where can I submit the claim forms?

    A3. One can submit the claim forms at one’s nearest branch or the company's address: Edelweiss Tokio Life Insurance Co. Ltd., 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai-400070.
  • How can I get an update on my claim status?

    A4. To get an update on the claim status, one can call customer care toll free number 1-800-2121-212. One can also send your queries by email: claims@edelweisstokio.in.

Different types of Plans


Premium By Age

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL