Service Timelines 

 

Policy Servicing Related TATs
S.No Service Maximum Turn Around Time
1.

Processing of proposal and communication of decisions including requirements /  issue of policy/Cancellations

15 days

2.

Obtaining copy of the proposal

15 Days

3.

Post Policy issue service requests

15 days

 


Payment Related TATs
S.No Service Maximum Turn Around Time
1.

Free Look Cancellation, Surrender, withdrawal, refund of proposal deposits (if any)

15 days

2.

Maturity, Survival Benefits Claims and Annuities

On due date

 


Grievance Related TATs
S.No Service Maximum Turn Around Time
1.

Acknowledge a Grievance                                                 

3 days

2.

Resolve a Grievance

15 Days

 


Death Claim Related TATs
S.No Service Maximum Turn Around Time
1.

Raising claims requirements after lodging the claim

15 days

2.

Death Claim Settlement without Investigation (Life) from the date of receipt of all relevant papers and clarifications

30 Days

3. Death Claim Settlement with Investigation (Life)
  • Investigation to be completed– 90 Days
  • Claim Settlement thereafter - 30 Days

120 Days

4. Claim Settlement without Investigation (Health)

30 Days

5. Claim Settlement with Investigation (Health)
  • Investigation to be completed– 30 Days
  • Claim Settlement thereafter - 45 Days from the last necessary documents

75 Days

 

Policy Servicing Related TATs
S.No Service Maximum Turn Around Time
1.

Processing of proposal and communication of decisions including requirements /  issue of policy/Cancellations

15 days

2.

Obtaining copy of the proposal

15 Days

3.

Post Policy issue service requests

15 days

 


Payment Related TATs
S.No Service Maximum Turn Around Time
1.

Free Look Cancellation, Surrender, withdrawal, refund of proposal deposits (if any)

15 days

2.

Maturity, Survival Benefits Claims and Annuities

On due date

 


Grievance Related TATs
S.No Service Maximum Turn Around Time
1.

Acknowledge a Grievance                                                 

3 days

2.

Resolve a Grievance

15 Days

 


Death Claim Related TATs
S.No Service Maximum Turn Around Time
1.

Raising claims requirements after lodging the claim

15 days

2.

Death Claim Settlement without Investigation (Life) from the date of receipt of all relevant papers and clarifications

30 Days

3. Death Claim Settlement with Investigation (Life)
  • Investigation to be completed– 90 Days
  • Claim Settlement thereafter - 30 Days

120 Days

4. Claim Settlement without Investigation (Health)

30 Days

5. Claim Settlement with Investigation (Health)
  • Investigation to be completed– 30 Days
  • Claim Settlement thereafter - 45 Days from the last necessary documents

75 Days

 


In case of any delay, the company shall pay interest at a rate, as specified in Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interest) Regulations, 2017 and any clarifications/amendments issued by the Authority from time to time.