A life insurance policy is one of the few investment options that provide financial security to the people along with maturity benefit, including tax benefits. Even though having these much of benefits, the primary objective of life insurance is to provide financial security or income replacement for their family in the event of life insured’s death. Human life is made up of the happening of unexpected and uncertainties. So, it is important to the people, who has a financial dependent would benefit from investing in life insurance. Here, you can clearly understand the importance of providing the claims of an insurance companies in the event of life insured risk. So, before investing in to life insurance, one should review the important factor that is claim settlement ratio. In this article the review of HDFC Life Insurance Claim Settlement Ratio in the financial year of 2018-19 is given and also provide the history of claim settlement ratio of the company.


HDFC Life is one on the India’s Most leading Life Insurance companies that offering a range of products to individuals and group insurance solutions that fulfill their customer needs in their various stages of the life. The company offers Protection, Pension, savings & Investments, Health, etc.

HDFC Started operations in 2000 so it is a long-term life insurance provider in India. The company had 37 individual and 11 group insurance products in various category like protection, pension, savings, investment, annuity and health to meet the customers need and fulfilment through their various stages for their life.

They serve people through their expanded presence of 421 branches and additional distribution touch points through several partnerships.

The Partnership comprise 270 bancassurance partners including NBFC’s, Small Finance Banks, and more than 40 new ecosystem partners. The financial consultants also strengthened the company.

Claim Settlement Ratio of HDFC Life Insurance

Claim settlement ratio is defined as number of claims settled to the insured against the number of claims filed to the insurer.

CSR = (Total no of claim paid during a financial year) / (Total no of claims received in a financial year)

While choosing the life insurance company to insure, it is an important factor to take into consider.

The Claim Settlement Ratio of HDFC Life Insurance in the financial year 2018-19 is 99.04%

[caption id="attachment_2930" align="aligncenter" width="509"]HDFC Life Claim Settlement Ratio HDFC Life Claim Settlement Ratio[/caption]

Claim details of HDFC Life Insurance

HDFC Life Claim Settlement 2018-19
Claims pending at the starting of FY 65
No of claims intimated in FY 2018-19 12881
Total No of Claims 12946
No of Paid Claims 12822
No of Claims Rejected 67

From the above data, HDFC Life Insurance paid 99.04% of claims against the total number of claims received in the financial year of 2018-19.

The company rejected 67 claims, that leads to the claim Repudiation ratio of 0.52% in the year of 2018-19.

HDFC Life paid 577 crores of death claim for their customers against 12822 claims intimated in the financial year of 2018-19.

Claim Settlement Ratio of HDFC Life for last 5 years

Insurance Regulatory and Development Authority of India regulates the insurance companies and as per their norms every insurance company should maintain stable, consistent and claim settlement ratio in order to protect the insurable interest of the policy holders.

The claim settlement ratio of HDFC Life for last 5 years is given below.

Financial Year
Claim Settlement Ratio
2014-15 90.50%
2015-16 95.02%
2016-17 96.62%
2017-18 97.80%
2018-19 99.04%

The graphical representation of last 5 years of Claim Settlement ratio of HDFC Life is provided below.

[caption id="attachment_2931" align="aligncenter" width="620"]Graphical Representation of HDFC Life Claim History Graphical Representation of HDFC Life Claim History[/caption]

The above graph clearly indicates that the claim settlement ratio of HDFC Life Insurance has increased linearly every year and also maintain the stability & consistency in their business and claim settlement to their customers year on year.

 Review of HDFC Life’s Claim Settlement Ratio

Insurance companies has promised the assurance of the risk coverage of their customers at the time of providing the insurance policy. But some incidents the insurance company has rejected their claims due to wrong information provided from the customer side. It is important for people to provide correct details and required documents at the time of claim to avoid the rejection and pending of claims.

From the above data, HDFC Life Insurance continuously maintain their claim settlement ratio above 95% for last 4 years. So, here we conclude HDFC Life Insurance is a very good insurance company to insure.

Source: IRDAI                                                                                                                                                       You can also read about HDFC Life Insurance Company by using the link here HDFC LIFE INSURANCE

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