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Simply put, for every 100 claims made by the policyholders, 94 were settled successfully. The number also indicates that the remaining 6 claims that were raised were either rejected, repudiated, or are pending.

The only benefit I see is Amex claims 100% Settlement ratio and default Critical illness cover (But they dont have any list published and they claim it will be taken on case by case basis). The premium was pretty much same as per open market policy (I see a few hundred more than open market).

The CSR higher than 80% is a good claim settlement ratio. If a company of more than 90% CSR is offering a great value product, it is more than welcome. Also look at the average claim settlement time taken but the company. This is a great indicator of the process efficiency of the company.

Notification of Claims: You must notify the Administrator of your claim within sixty (60) days of the Covered Loss or the claim may not be honored. You must also notify the Travel Supplier and complete its claim procedures. To open a claim, please call 1-844-933-0648.

When you charge a Covered Purchase to your Eligible Card, you can be reimbursed for up to 90 days from the date of purchase if the item is stolen or accidentally damaged.

Max Life Insurance has the highest claim settlement ratio in terms of the number of claims with 99.34 per cent for the year 2021-22.

“Basic Credit Card Member” means the individual in whose name the American Express Rewards Card Account is maintained.

American Express makes it easy – you can file your claim online or by giving us a call at 1-800-322-1277; if international, call collect at 1-303-273-6498. You will be asked certain questions about your claim at that time.