Insurance Awareness - Life Insurance - LIC
As per IRDAI guidelines, within how many days must a life insurance company settle a claim after receiving all necessary documents?
As per IRDAI guidelines, within how many days must a life insurance company settle a claim after receiving all necessary documents?
easy Q13 of 15
Step-by-Step Solution
Step 1: Recall IRDAI claim settlement timeline
IRDAI mandates that life insurance claims must be settled within a specific time frame after receiving all required documents.Step 2: Identify the correct time frame
The standard time limit for claim settlement is 30 days from the date of receipt of the claim documents.Final Answer:
30 days → Option DQuick Check:
30 days is the well-known IRDAI prescribed limit for claim settlement.
Quick Trick: Remember the '30-day rule' for claim settlement.
Common Mistakes:
MISTAKES- Confusing 15 or 45 days as the settlement period.
Master "Life Insurance - LIC" in Insurance Awareness
Start learning the concept with an interactive lesson.
Want More Practice?
15+ quiz questions · All difficulty levels · Free
Free Signup - Practice All QuestionsMore Insurance Awareness Quizzes