Delay in settlement of claims causes great hardships to the Claimant and the purpose of taking insurance is vitiated because of the delay. The delay in settlement of claim can be because of variety of reasons.
- There may be delay on account of late lodgement of claim.
- Non fulfilment of requirements desired by the company.
- Issues related to nomination in the policy.
- Claimant is not able to understand precisely what kind of
documents are required by the insurance company.
- Right kind of letter not reaching the right person from where
the information is sought by the insurance company and lack of information about where to send the desired
details etc.
All this can be addressed on this platform through the available grievance redressal machinery.
If Your claim processing is inadvertently delayed Submit following.
- Copy of policy bond
- Acknowledgement of submission of claim forms along with all the forms submitted to the company
