The third party administrator (TPA) acts as an intermediary between the insurance provider and the person taking the insurance.
Insurance experts say that one should buy a policy from a company whose claim settlement record is more than 95%.
Insurance companies decide on the basis of their bandwidth and capacity on whether they need external help to process claims raised by their customers
Many insurance companies in the country including Life Insurance Corporation of India (LIC) offer rebate on online purchase of policies.
Most people are not too aware about asset planning and their successors might face challenges afterwards