Final answer:
The insured must wait 60 days before receiving reimbursement after submitting proof of loss to an accident and health insurer. This time frame allows for claim processing and verification, and does not restrict other actions such as filing claims or changing beneficiaries.
Step-by-step explanation:
After an accident and health insurer receives written proof of loss from an insured, the insured must wait 60 days before receiving reimbursement. This waiting period allows the insurance company time to process the claim and verify the information provided in the proof of loss. It is important for policyholders to understand that this time frame does not affect other actions they might take, such as seeking medical treatment, filing a claim, or changing the beneficiary on their policy. These actions can generally occur at any time in accordance with the terms of their specific insurance policy.
To provide additional context, insurance pays out for various reasons depending on the type of policy. For example, health insurance pays when medical expenses are incurred, car insurance covers events when a car is damaged, stolen, or causes damage to others, and dwelling insurance provides compensation when a dwelling is damaged or burglarized. Understanding the terms and conditions of an insurance policy is crucial for effectively utilizing the coverage provided.