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25 Aug, 2021
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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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25 Aug, 2021
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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