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What happens to the policy coverage after a claim is filed?

April 26, 2017claim coverage filed happens policy

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What happens to the policy coverage after a claim is filed?

2 Answers

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After a claim is filed and settled, the policy coverage is reduced by the amount that has been paid out on settlement. For Example: In January you start a policy with a coverage of Rs 5 Lakh for the year. In April, you make a claim of Rs 2 lakh. The coverage available to you for the May to December will be the balance of Rs.3 lakh.

0

Posted

After a claim is filed and settled, the policy coverage is reduced by the amount that has been paid out on settlement. For Example: In January you start a policy with coverage of Rs 5 Lakh for the year. In April, you make a claim of Rs 2 Lakh. The coverage available to you for the May to December will be the balance of Rs.3 Lakh.