Question

What is the maximum time limit set by IRDA for processing life insurance proposals by insurance companies?

a.

30 days

b.

20 days

c.

15 days

d.

10 days

Answer: (c).15 days Explanation:According to the regulatory norms established by the IRDA, proposals have to be processed by the insurance companies with speed and efficiency, and all decisions relating to the proposals have to be communicated in writing within a reasonable period not exceeding 15 days from receipt of the proposals by the insurer.

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Q. What is the maximum time limit set by IRDA for processing life insurance proposals by insurance companies?

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