IC38 LIFE INSURANCE AGENT EXAM - Study Notes

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  • The complaint is made within one year from the date of rejection by the insurance company
  • The complaint is not pending in any court or consumer forum or in arbitration. The decision of the Ombudsman, whether to accept or reject the complaint, is final
  • Award by Insurance Ombudsman should not be more than Rs. 20 lakh and should be made within a period of 3 months from the date of receipt of a complaint
  • insured should acknowledge the receipt of the award within 30 days
  • The insurer shall comply with the ombudsman award and send a written intimation to the Ombudsman within 15 days

IC 38 Life Insurance

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