These policies often include a waiting period before payouts, allowing insurers to verify claims and ensure eligibility.
The waiting period varies depending on the policy terms.
Elimination of Other Options:
A: A doctor's visit is often necessary but not sufficient for payout.
B: Payments are not instantaneous.
D: Documentation is required, but it is part of the claim process, not the trigger for payout.
References:
ICWIM Module 5: Details on insurance policy structures and claims processes.
Personal Accident Policies:
These policies often include a waiting period before payouts, allowing insurers to verify claims and ensure eligibility.
The waiting period varies depending on the policy terms.
Elimination of Other Options:
A: A doctor's visit is often necessary but not sufficient for payout.
B: Payments are not instantaneous.
D: Documentation is required, but it is part of the claim process, not the trigger for payout.
References:
ICWIM Module 5: Details on insurance policy structures and claims processes.
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