17 Questions
What are some of the options available for premium payment according to the text?
Payment through SMS
Which touch-point allows digital premium payment in a single scan?
Customer portal
When should an insurance intermediary deposit collected premium according to the text?
Within 24 hours of collection
Which premium payment method does not require the assumption of any risk before receiving the premium?
Payment through QR code
Which customer touch-point is least likely to be used for premium payment?
Distribution support
What is the term for the policyholder not needing to pay anything to the network hospital?
Cashless claims
What is the term for the amount paid by the policyholder to the insurer at regular intervals?
Premium
Which term refers to initially paying for medical expenses and then seeking reimbursement?
Reimbursement claims
What is the term for the insurance company that provides coverage for specified risks?
Insurer
Which type of premium payment occurs at regular intervals such as monthly, quarterly, or annually?
Regular payment
What term describes the protection or benefits provided by an insurance policy?
Coverage
What are the options available for customers to pay their premiums?
Direct Debit/NACH, Online payment, Payment at Branch/Service centers, Electronic Bill Presentment
How do customers receive advance notices about their premium payments?
Through SMS/whatsapp, letters, emails, and calls
What is the purpose of a Grace Period for Premium Payment?
To delay payment without late fees and avoid contract cancellation
What happens if a health insurance policy is not renewed on time?
Loss of accumulated coverage benefits like no claim bonus
Why is timely payment for health insurance renewal necessary?
To avoid restart of waiting periods and loss of accumulated benefits
Which payment method allows customers to set up automatic deductions for premiums?
Direct Debit/NACH
Explore different premium payment options for insurance policies, including payment frequency, advance notices, and various payment methods such as direct debit, online payments, and branch payments.
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