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Claim payment by cheque or NEFT

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25 Aug, 2021 by  Avinash Sonee

Hi,


As per IRDA guidelines Ref. IRDA/F&A/CIR/GLD/195/08/2014 clause 4.c, any payment due to the customer has to be made via electronic mode.

Is there any new guideline overriding this.


Can a company still make claim payments by cheque? or is it mandatory to do it via electronic mode?


Thank you


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Health Insurance

1 Answer

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25 Aug, 2021

Hi Avinash,


As far as health claims go, all payments are online. Insurers specifically ask for proof of bank account - cheque, bank statement or passbook, and with that info make the payment to account directly.


Anuj

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25 Aug, 2021
Avinash Sonee
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