Articles
What Cashless Health Insurance Actually Is?
by kumar rahul Best Insurance DealsToday almost all the health insurance companies offer cashless hospitalization facilities. Cashless health insurance means you don’t have to worry about paying money from your own pocket at the time of a medical emergency or hospitalization. Your health insurance provider will directly settle the medical bills with the hospital or medical institution directly under this cashless facility.
How Long Does It Take
to Settle a Cashless Medical Insurance in India Claims?
As per, IRDAI or Insurance Regulatory and Development Authority of India, the insurance company has to settle an insurance claim within 30 days from the date of receipt of the last necessary document. In the case of delay in the payment of a claim, the insurer is liable to pay interest from the date of receipt of the last necessary document to the date of payment of claim at a rate 2 percent above the bank rate. However, the insurer may initiate an investigation before paying the claim. Such an investigation has to be initiated at the earliest, i.e., not later than 30 days from the date of receipt of the last necessary document. In such cases, the insurer has to settle the claim within 45 days from the date of receipt of the final document.
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About kumar rahul 
Best Insurance Deals
36 connections, 0 recommendations, 202 honor points.Joined APSense since, October 31st, 2018, From Kolkata, India.
Created on Aug 19th 2020 01:02. Viewed 250 times.
