The State Consumer Forum’s handling of disputes related to the defrauded LIC scheme is marred by lengthy delays, exacerbating the suffering of innocent beneficiaries, says Ravindranath.

The State Consumer Forum’s handling of disputes related to the defrauded LIC scheme is marred by lengthy delays, exacerbating the suffering of innocent beneficiaries, says Ravindranath.

On March 14, 2023, Udupi Human Rights Protection Foundation president Ravindranath Shanbhag expressed his concerns about the lack of progress in resolving the issue of LIC’s Jeevan Madhur policyholders in Chikkamagaluru district. Over 50,000 policyholders have...
The State Consumer Forum’s handling of disputes related to the defrauded LIC scheme is marred by lengthy delays, exacerbating the suffering of innocent beneficiaries, says Ravindranath.

According to the latest settlement ratios, Axis Max and HDFC secured the top spots with an impressive 99% rate, while Reliance Nippon trailed slightly behind at 94%.

The article discusses the importance of claim settlement ratio when it comes to life insurance, as it helps policyholders understand how likely an insurer is to honor their claims. The claim settlement ratio is the percentage of claims that an insurance company pays...