How Long Does Insurance Claim Take?

While filing for an insurance claim, many people feel skeptical about the length or duration of the process. Most people spend much time comparing different policies, choosing one, paying for it, and raising a claim when needed.

Insurance claims are of different types. However, regardless of the type of claim you are raising, you must ensure that you provide the right documentation. While filing and presenting the documents to the company, you should be completely transparent and honest.

Time Limit

When you plan to find out how long an insurance claim takes to process, the time limit is one of the terms you should familiarize yourself with. Policyholders must stick to a pre-decided time limit while claiming an insurance policy. The timeline followed by an insurer could be very different from that followed by another insurer. The time limit also depends on the type of policy you have opted for. For instance, the time limit for a reimbursement claim could vary significantly from a cashless claim.

A time limit is attached to an insurance policy to ensure no foul play or fraud is committed when claims are made. When there is limited time to claim an insurance policy, one does not have much time to create false information and present it to the company.

Reimbursement Claim

A reimbursement claim is made when you must pay the hospital bills upfront and raise a claim to the insurance company. In such a situation, the policyholder does not have to intimate the company before getting hospitalized. The policyholder, however, has to raise a claim 7-15 days after being discharged from the hospital.

Cashless Policy

A cashless health insurance policy is helpful when you undergo a planned hospitalization process. If your health deteriorates, you must inform the insurance agency about your intentions of getting hospitalized at least 3 days in advance. This time limit ensures that all the verification processes between the insurance agency and the hospital happen smoothly.

Post-Hospitalization Claims

Some health insurance policies are designed to settle post-hospitalization claims. You must know that it takes a while for such claims to be verified and processed. After the policyholder gets hospitalized, they can raise a claim within a month or two.