|
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. |
Surrender, withdrawal, refund of proposal deposits (if any)
|
15 days
|
|
2. |
Free Look Cancellation
|
7 days
|
|
3. |
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
|
14 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.