Death claims payout in life insurance rises


The private sector Life Insurance firms have paid 57.35 per cent higher death claims during the April - June 2009 quarter at Rs 321 crore, as compared to Rs 204 crore during the last quarter April - June 2008. Life Insurance Council, Secretary General S B Mathur said, “The downturn has no way impacted the Indian life insurance industry, with respect to the payment of death benefit is concerned. In fact, it is significant to note that the death benefit on the contrary, has increased.”

The total benefit, which comprises of death benefit, maturity benefits, periodic bonuses, periodic money back and other benefits, too has gone up 21.12 per cent to Rs 12,056 cr during the April - June 2009 quarter as compared to Rs 9,953 cr during the corresponding quarter last year. The total benefits paid by the private sector grew 35 per cent to Rs 2,123 cr during the April - June 2009 quarter, as compared to Rs 1,573 cr duringsame period last year.

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