HDFC Life Insurance Claim Settlement
Claim Settlement of HDFC Life Insurance
HDFC Life Insurance Claim Settlement Ratio is an important metric that shows how effectively HDFC Life Insurance Company processes and settles claims made by its policyholders. This ratio indicates the percentage of insurance claims settled by the company against the total number of claims received in a specific financial year.
A higher Claim Settlement Ratio (CSR) generally indicates that the insurance company has successfully fulfilled its obligations towards policyholders by settling a larger proportion of claims successfully. This is a crucial percentage because it reflects the reliability and trustworthiness of the insurer in meeting its commitments to customers during tough times.
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FAQs
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What is the claim settlement ratio of HDFC Life Insurance?
HDFC Life Insurance featured a high claim settlement ratio of 99.07% for the FY 2019-20.
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What type of bank account proofs can be submitted for the claim settlement procedure?
Original cancelled cheque, bank statement with pre-printed account number, IFSC code or a copy of the bank passbook can be submitted.
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How will I know my claim has been registered?
After sending the documents HDFC Life will send an acknowledgement letter within 15 days of receiving them. Any further requirements shall be notified via letter, email or SMS on your registered mobile number.
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Where can I submit the health claim related documents?
You can upload the documents online, visit the nearest HDFC Life Insurance branch office or you can submit the documents to the Health Claims Team for processing.
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What to do if the policy documents are not available with the nominee?
If the nominee does not have the original policy documents an Indemnity Bond should be submitted in the place of the policy documents. Note that the Indemnity Bond should be duly notarized.