|
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)
|
7 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
|
Immediately
|
|
2. |
Resolve a Grievance
|
14 Days
|
|
Death and Health Claim Related TATs |
|
S.No |
Service |
Maximum Turn Around Time |
|
1. |
Death Claim Settlement (without Investigation) from the date of intimation of claim
|
15 days
|
|
2. |
Death Claim Settlement (with Investigation) from the date of intimation of claim
|
45 Days
|
|
3. |
Health Claim Settlement (other than Cashless) from the date of submission of claim |
15 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 and Health Claim Related TATs |
|
S.No |
Service |
Maximum Turn Around Time |
|
1. |
Death Claim Settlement (without Investigation) from the date of intimation of claim
|
15 days
|
|
2. |
Death Claim Settlement (with Investigation) from the date of intimation of claim
|
45 Days
|
|
3. |
Health Claim Settlement (other than Cashless) from the date of submission of claim |
15 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' Interests, Operations and allied Matters of insurers) Regulations, 2024 and any clarifications/amendments issued by the Authority from time to time.