The Insurance Law has corresponding provisions on this:
Article 23 An insurer shall, after receiving a request for compensation or payment of insurance benefits from the insured or beneficiary, verify it in time; If the situation is complicated, it shall be approved within 30 days, unless otherwise agreed in the contract.
The insurer shall notify the insured or beneficiary of the verification result; For the insured, the obligation to compensate or pay insurance money shall be fulfilled within ten days after reaching an agreement with the insured or beneficiary.
Extended data:
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Relevant provisions of the Insurance Law:
Article 43 The contract stipulates that the insurance premium shall be paid in installments, and if the insured fails to pay the current insurance premium for more than 30 days from the date of the insurer's demand, or fails to pay the current insurance premium for 60 days beyond the agreed time limit, the contract shall be terminated.
The insurer shall return the cash value of the insurance policy to other obligees in accordance with the contract. If the beneficiary intentionally causes the death, disability or illness of the insured, or intentionally kills the insured, the beneficiary loses the right to benefit.
Article 44 In a contract in which the death of the insured is the condition for payment of insurance benefits, if the insured commits suicide within two years from the date of the establishment of the contract or the resumption of the contract, the insurer shall not be liable for payment of insurance benefits, except that the insured is a person without civil capacity.
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