How much time does the company take to settle the claim, once all the requirements are submitted?

It is mandatory for insurance companies to settle claims within 1 month of receiving necessary documents and records unless further investigation is required. Claims made within 2 years of taking policy may be sent for further investigation. Such claims are to be settled within 6 months. If it is a valid claim and is not settled within 6 months the insurance company is liable to pay interest on it.

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