How long private life span lifeisurance will budge within adjectives.?
The adjectives of private life insurance companies is questonable.
How?
They are here to do business, a recent information showed that LIC has around 4% refusal of prmatured claims as compared to 90% for that of private companies.
So its always obedient to get insured near LIC.
The private Life insurance companies settle 72.70% of annihilation claims whereas LIC settles 96.94% of the claims. This is as per IRDA declared figures contained by the Economic Times dated 29.4.2008.
Also Private Companies concentrate on Unit Linked Insurance Plans which may give virtuous returns but offer low risk cover.
Always consider taking traditional insurance plans of LIC.
Answers: There is nothing wrong next to the future of Private Insurance Companies.
Future is bright.