What is the time frame within which loss is payable after proof of loss?

The correct answer is 60 days because, in most insurance policies, the insurer is typically required to pay claims within a specific time frame once proof of loss has been submitted. This time frame is often stipulated in state insurance laws and policy language, and 60 days is a common standard set to ensure that insured parties are not left waiting indefinitely for compensation after submitting valid claims.

This provision helps to maintain trust in the insurance process and supports the financial stability of policyholders during times of need. Timely payments also reduce the burden on insurers in managing claims efficiently. In contrast, the other time frames provided—30 days, 90 days, and 120 days—are either too short or too long compared to the standard industry expectations set for such situations.