Pennsylvania Life and Health Insurance Exam Practice Question
Upon receipt of proof of loss, the insurer must advise the claimant of the acceptance or denial of the claim within
Correct Answer: C
Rationale: Insurers are required to respond to a proof of loss within a specified timeframe to ensure timely processing of claims. The correct timeframe is 30 working days, as this allows sufficient time for the insurer to assess the claim thoroughly.
Option A (5 working days) is too short for a comprehensive review. Option B (15 working days) does not provide enough time for complex claims that may require additional investigation. Option D (60 working days) exceeds the regulatory expectations, potentially delaying rightful compensation. Adhering to the 30-day standard promotes fairness and efficiency in the claims process.
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