Q. Why is a free look period advantageous for insurance companies?

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Q. What is the timeframe for sending the original documents and cancellation application to the insurance company during the free-look period?

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Q. What deductions are typically made by the insurance company when a policy is canceled during the free-look period?

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Q. In unit-linked insurance plans, how are changes in the net asset value (NAV) during the free-look period handled?

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Q. What details should be clearly stated in a life insurance policy according to regulatory requirements?

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Q. How should the insurer inform the insured about the free look period?

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Q. What additional right does the insurer have in respect of unit-linked policies upon cancellation?

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Q. What obligation does the insurer have regarding the insured's age in policies where premium depends on age?

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Q. How often should the insurer inform the insured regarding claim procedures?

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Q. What is the timeframe within which a life insurance company should process a claim upon receiving it?

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Q. If additional documents are required for processing a life insurance claim, when should the insurer raise queries or request additional documents?

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Q. In case an investigation is warranted for a life insurance claim, when should the insurance company initiate and complete the investigation?

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Q. What action should a life insurance company take if a claim is ready for payment but cannot be made due to identification issues?

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Q. In case of delay by the insurer in processing a life insurance claim, at what rate should interest be paid on the claim amount?

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Q. What is the recourse available to a policyholder if they are dissatisfied with the decisions taken by the insurer?

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Q. What is the maximum timeframe within which a surveyor should communicate his findings to the insurer after appointment?

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Q. In case a survey report is found incomplete, within what timeframe should the insurer request an additional report?

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Q. How long does a surveyor have to furnish an additional report upon receiving a request from the insurer?

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Q. Within what timeframe should an insurer offer a settlement of the claim to the insured upon receiving the survey report?

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Q. If an insurer decides to reject a claim under the policy, within what timeframe should it communicate the decision to the insured?

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