Now insurance claims will be settled within seven days, earlier it was taking 30 days: insurance

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New Delhi, lucknowfirst | insurance. The pending claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) will now be settled in just seven days. Earlier this work was taking 30 days. At the same time, the claim settlement process between banks and insurance companies will be completely digital. In lieu of death certificate, the insurance claim can be passed on the basis of the certificate of the treating doctor and the certificate issued by the DM or other authorized officer. On Saturday, Finance Minister Nirmala Sitharaman directed to expedite the settlement of pending claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), launched under the Pradhan Mantri Garib Kalyan Package (PMGKP).

The Finance Minister held a meeting with the heads of insurance companies through video conferencing on Saturday. The Finance Minister stressed on the importance of facilitating the process and documentation requirement under the schemes, so that claims can be settled expeditiously. The review found that a total of 4.65 lakh claims worth Rs 9,307 crore have been paid since the inception of PMJJBY.

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At the same time, since April 1, 2020, 1.2 lakh claims amounting to Rs 2,403 crore have been paid at the rate of 99 per cent settlement. The Finance Minister said that a new system has been put in place where a simple certificate issued by the District Magistrate and the approval of the Nodal State Health Officer will suffice to pursue these claims. The Finance Minister also directed the states to pursue the COVID claims of health workers on priority and make maximum use of this simple system.

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