Insurance Awareness - Health Insurance
What is the typical maximum time frame within which a health insurer must settle or reject a claim after receiving all necessary documents, as per IRDAI guidelines?
What is the typical maximum time frame within which a health insurer must settle or reject a claim after receiving all necessary documents, as per IRDAI guidelines?
medium Q6 of Q15
Step-by-Step Solution
Step 1: Recall IRDAI claim settlement timeline
IRDAI mandates that health insurers settle or reject claims within 30 days of receiving all required documents.Step 2: Compare options
Among the options, 30 days is the correct regulatory timeline.Final Answer:
30 days → Option CQuick Check:
This timeline ensures timely claim processing and protects policyholders.
Quick Trick: Remember the '30-day rule' for claim settlement.
Common Mistakes:
MISTAKES- Confusing this with intimation timelines or other deadlines.
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