Insurance claims: Policy holders may get option to get accident/health benefits in installments
The concept may be altogether new to the general/ health insurance industry, but it is in vogue since long in the life insurance industry, especially in respect of endowment policies, where maturity claim benefits are paid in installments to the policyholders.
Insurance Regulatory and Development Authority of India (Irdai) had set up a working group to study the proposal. Representational Image, source: Reuters