How long private life lifeisurance will go in future.?

Question

How long private life lifeisurance will go in future.?

Answer 1

The private Life insurance companies settle 72.70% of death claims whereas LIC settles 96.94% of the claims. This is as per IRDA declared figures in the Economic Times dated 29.4.2008.

Also Private Companies concentrate on Unit Linked Insurance Plans which may give good returns but offer low risk cover.

Always consider taking traditional insurance plans of LIC.

Answer 2

The future of private life insurance companies is questonable.

How?

They are here to do business, a recent data showed that LIC has around 4% refusals of prmatured claims as compared to 90% for that of private companies.

So its always good to get insured with LIC.

Answer 3

There is nothing wrong with the future of Private Insurance Companies.

Future is bright.