Meaning of the term claims in Insurance - NEPAL MONETARY SOLUTIONS (NMS)

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Monday, March 3, 2014

Meaning of the term claims in Insurance

Claims:- 

A claim occurs when a policy fall due for payment. In Life Insurance it arises on death or on the maturity of the policy. In case of General Insurance, the claim arises only when the loss occurs. while calculating the claim outstanding at the end, the claim intimated as well as the claim intimated and accepted both are considered.

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