n NISM Certifications
NSM General NISM
Medium

If there is a delay in claim processing for reasons not specified, what does the life insurance company do?

Practice question from IC 38 Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Reject the claim with no compensation

  2. B

    Pay the claim without additional compensation

  3. Pay interest on the claim at 2% above the bank rate at the start of the financial year

    Correct answer

  4. D

    Extend the processing timeline without compensation

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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