# How to use NL-47 disclosures to pick health insurance

2026-08-16T16:17:09+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Insurance companies publish hundreds of pages of data every year. While useful for investors, these disclosures are hard for ordinary customers to navigate. Before buying health cover, ask: what does the policy cover, how many claims does the insurer pay, do customers complain often, and do policyholders keep renewing? Schedule NL-47 of annual public disclosures provides product-level information to help answer these questions. NL-47 gives the claim settlement ratio for individual products. Ideally, look for policies with rates above 90%. The incurred claims ratio (ICR) measures claims paid as a proportion of premiums collected. An ICR above 100% could lead to higher premiums, a very low ratio may mean expensive premiums or low payouts. For one standalone health insurer, product-level claim settlement rates ranged from 92% to 97%, and ICRs from 52% to 107%. NL-47 also provides product-wise complaint data and renewal rates. Complaint rates can vary sharply among products of the same insurer. Renewal rates show the percentage of policies renewed. Age-wise data indicates how many policies have stayed active for one, three, five or more years. For one leading insurer, renewal rates across products ranged from about 87% to 95%. One widely sold product had nearly two lakh policies active for five to 10 years.

## Coverage

- livemint.com <https://www.livemint.com/money/personal-finance/unlocking-schedule-nl-47-how-to-use-annual-public-disclosures-to-pick-the-best-health-insurance-policy-11786888962523.html>

This story was synthesised by AI from the source linked above.

Tags: health insurance, IRDAI, NL-47
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