Personal accident policies will pay out:

Personal accident policies will pay out:
A . Once the insured has been seen by a doctor
B . On the day of the accident
C . Following a waiting period
D . Once the insurance company has received the medical documentation

View Answer

Answer: C

Explanation:

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.

Reference: 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.

Reference: ICWIM Module 5: Details on insurance policy structures and claims processes.