Zenith Islami Life settles Tk 5.26 crore insurance claims

The insurance claim settlements of Zenith Islami Life Insurance Ltd have reached Tk 5.26 crore in 2022, displaying a proliferation of Tk 1.56 crore within a year.

The company data shows that the Zenith Islami Life Insurance has made payments of Tk 5.26 crore insurance claims in 2022 which was Tk 3.7 crore in 2021, showing a steep hike in a year.

The insurance claims were settled within the seven days of required documents submission and the company currently has no pending insurance claims to settle, Zenith Islami Life Insurance CEO SM Nuruzzaman said.

Out of Tk 5.26 crore insurance claims settlements, the company paid Tk 96.99 lakh for 46 death claims, Tk 26.22 lakh for 89 health insurance claims, Tk 24.88 lakhs for 10 overdue claims and Tk 3.72 crores for 821 SBS in 2022.

Before that in 2021, Zenith Islami Life paid Tk 3.7 crore to settle a total of 741 insurance claims. Among them, 34 were death insurance claims, 27 health insurance, five matured claims policies, 633 Surrender Benefit (SB) and 42 surrender value policies.

At the same time, the company’s total investment was Tk 19.52 crore in 2021, which jumped to Tk 28.22 crore in 2022, presenting a Tk 8.70 crore hike in a year, the company data stated.

SM Nuruzzaman said “We pay insurance claims within the seven working days, even if policy holders submit necessary documents online and it is not mandatory to send the original documents.”

“All insurance claims were paid into the customers’ bank accounts or through mobile banking, so that clients don’t have to waste time to receive an insurance claim cheque”, he said.

Moreover, customers don’t have to hover around the head office or branch offices and get their insurance money on time avoiding any hassle, he added.

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