TomorrowMakers ™

(Please click on alphabets above to access specific pages)

Claim Handling Cost

The amount paid by an insurance company for processing and administration of insurance claims.


A quality of an insurance policy which makes it possible for it to be voided during the policy term, by the insured, for a list of pre-approved reasons.

Captive Agent

An insurance agent who exclusively works for a single insurance company and loyally sources clients only for that company.


It is a request made by the policy holder or beneficiary to an insurance company, to alert them that the payment of an amount is due, in keeping with the conditions of their insurance policy.


The rupee amount of risk and/or liability that an insurance company promises to pay to a policy holder or his/her beneficiary, in case the event that is covered by the insurance policy, should occur.


The right to delay the paying back of something which is bought or borrowed in the present.

Claim Settlement Ratio (CSR)

Claims Settlement Ratio on a given day is defined as the ratio of claims paid to nominees by an insurance company and the total claims received from policy holders. For instance, a CSR of 90% would mean that 9 out of 10 claims were settled. The balance claims are either rejected for impersonation, misrepresentation, fraud, etc. or pending for decision by the insurance companies.


The termination of an insurance policy before its normal date of expiry either by the insurer or the insured individual.

Cashless Hospitalisation

This is a facility provided by select insurers whereby policy holders can get themselves admitted to a network hospital and receive required treatment without paying any cash to the hospital. Instead, the insurer will settle payment with the hospital directly. The policy holder is required to inform the Insurer and seek approval for all planned hospitalization.


The withholding of relevant/material information which impacts how risky of an investment a policy holder is. This can be a cause for rejection of insurance claim.


Fee paid by insurers to insurance agents for the sale of insurance policies.

Health Insurance Riders


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