Claim Amount in Instalments
What is Settlement Options ?
If a Policyholder wants to get claim amount whenever it arises in instalments he or she can inform the Insurer in a described manner about his or her wish at the time of commencement of the policy or at any time during the currency of the policy. This feature is very common and usually provided by every Insurer. Insurers offer policyholders an option to collect the claim amount in instalments over a period of years.
More Options
Different composition can be made like policyholder opting for monthly instalments to be paid to him or quarterly or six monthly or instalments for a selected period and then a lump sum payable after the end of that period.
More Related Topics
If a Policyholder wants to get claim amount whenever it arises in instalments he or she can inform the Insurer in a described manner about his or her wish at the time of commencement of the policy or at any time during the currency of the policy. This feature is very common and usually provided by every Insurer. Insurers offer policyholders an option to collect the claim amount in instalments over a period of years.
More Options
Different composition can be made like policyholder opting for monthly instalments to be paid to him or quarterly or six monthly or instalments for a selected period and then a lump sum payable after the end of that period.
More Related Topics
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- Regulations for Protection of Insurance Policyholder's Right
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posted by Look Topper at Tuesday, December 05, 2006
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