Max Life Insurance Co. Ltd, announced that the company has paid 10,152 individual death claims amounting to Rs 353 crores, thus achieving claims paid ratio of 98.26% in FY 17-18. This is a further increase over FY 16-17, when the company paid 97.81% of the total individual death claims received. In FY 17-18, only 178 death claims were rejected and at the end of the financial year only 2 cases were pending for closure.
As per IRDAI annual report for FY 2016-17 released in Jan’18, Max Life Insurance has superior individual death claims paid ratio during the said fiscal year