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

View solution

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

View solution

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

View solution

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

View solution

Q. Within how many days should the payment of the settled claim amount be made to the insured?

View solution

Q. In case of delay in the payment of the claim amount, at what rate should the insurer pay interest?

View solution

Q. What is the proposed purpose of the Key Feature Document according to IRDA?

View solution

Q. What is a key requirement for the language used in the Key Feature Document?

View solution

Q. Why should the Key Feature Document be a separate item and not part of other literature?

View solution

Q. What should the Key Feature Document explicitly highlight?

View solution

Q. What font size should the title of the Key Feature Document be?

View solution

Q. In what languages should the Key Feature Document be available?

View solution

Q. What is the primary goal of the Insurance Regulatory and Development Authority (IRDA) regarding insurers' guidelines?

View solution

Q. What is emphasized regarding transparency at the time of sale and promotion?

View solution

Q. What languages should forms and documents be made available in?

View solution

Q. What should the proposal form avoid?

View solution

Q. What is the primary purpose of a policy bond?

View solution

Q. Within what timeframe can a customer cancel a life insurance policy under the free-look period option?

View solution

Q. What is the purpose of the Insurance Ombudsman?

View solution

Q. What obligation does every insurer carrying on life insurance business have regarding policy lapses?

View solution