Term Insurance - Online/Offline Plans - few queries?

[>take]

I have done research on it and found that the "Metlife online policy" are cheap compared to others and they do not have any hidden policy rejection.

What do you mean by hidden policy rejection?
As per Annual Report of IRDA FY2009-10 => Claims paid ratio 5.94 (which is last two, out of the 23 Life Insurance companies operating in India). Met Life is worst, as per above data.

Top 5 Indian Life Insurance Companies claims paid ratio (FY2009-10) -

1. LIC - 96.54 %
2. HDFC Life - 91.14%
3. ICICI Pru Life - 90.17%
4. ING Vysya Life - 89.30%
5. Birla Sun Life - 89.09%

[Vinayak]

What is claim settlement or claims paid ratio?

[Minal]

What is claim settlement or claims paid ratio?

Claim Settlement Ratio gives us an idea about the claim solving ability of the insurance company. If claims are intimated and the insurance company solves those, claim settlement ratio would be good. In simple words - claim settlement ratio is the number of claims settled by the insurance company out of every 100 claims it has received.

Claim Settlement Ratio (CSR) = Total Claims Settled / [(Total Claims) – (Claims Rejected)] %