Question regarding Claim Settlement ratio
I am Considering the SBI General Arorgy Supreme policy as it has a built-in Critical illness option (i.e they pay to lumpsum of 25 lac if you are diagnosed with any listed critical illness ) plus 200% NCB plus 2X sum insured in case of an accident, full reinstatement of sum insured for same illness and a lot more optional cover so you can customize to your own need
And also 10lac deductible 50 lac super top-up has a very low premium of rupee 300 within the same company
I know the Claim Settlement ratio does not matter, what matter is your Proposal Disclosure as you and your expert said it 100 times but just to know SBI General have the lowest claim 70% settlement ratio among insure and a higher Calim rejection rate close to 30% according to insure public disclosure(Quantitative and Qualitative parameter) which they release on their website
Do you think I should Ignore the SBI General as a company?
Higher claim rejection happen due to non-filling of proposal form properly by an agent as I know most of Sbi general health insurance is sold by Bank Representative who fill the proposal form for their client make mistake for commission
So Should I completely ignore the fact that SBI have a lower claim settlement ratio and go with it or Search for other company