The Buyt Desk
You opt for insurance, whether health, car, or life, to safeguard family and self in times of distress. It only adds to the distress if the insurer rejects your settlement claim. It is more concerning because you regularly pay a premium to access the desired sum in an emergency. You trusted the insurer and paid the premium on time, yet you did not receive the sum insured. In such a case, learn about your consumer rights and exert them.
Be Aware Of The Insurer’s Service Parameters
As per a mandate by IRDAI, the board of directors of an insurance company should decide a policy regarding service parameters. When buying an insurance policy, the insurer informs about the turnaround time of different services and its grievance redressal system. Usually, an insurer accepts or rejects the claim within two weeks.
File A Complaint With The Insurer’s Grievance Redressal Division
If the claim is rejected even after submitting all the required documents and timely payment of the premium, you can file a complaint with the insurer. You can also complain if you are dissatisfied with the service. You send a letter or an email to the grievance officer of the insurance company. Either way, it is vital to collect an acknowledgment of the complaint. The grievance officer should address the complaint in two weeks.
File A Complaint With IRDAI
All is not lost if the grievance response from the insurer is dissatisfactory. As a next step, you can file a complaint with the Grievance Redressal Cell of the Consumer Affairs Department of Insurance Regulatory and Development Authority of India (IRDAI).
You can fill and submit the complaint form online at the IRDAI’s Integrated Grievance Management System (IGMS). Once filed, a copy of the complaint also reaches the insurer. You can track the status of your complaint on IGMS. You can file a complaint through post or courier to the Grievance Redressal Cell of IRDAI in Hyderabad or email complaints@irda.gov.in. It is also possible to file the complaint by calling the toll-free number of IRDAI 155255/1800 425 4732 between 8 am to 8 pm on any working day.
The insurer will resolve the complaint within two weeks. After that, the matter is closed in the absence of your response for up to 8 weeks. You can escalate the matter to the regulator without the insurer’s response after 15 days of complaint filing. Escalation is also possible if the insurer’s grievance resolution is dissatisfactory. Now, IRDAI will take up the matter directly with the insurer.
In the absence of a desirable resolution from the insurer, you can seek the intervention of the Insurance Ombudsman or turn to legal remedies.
