Citizen charter

S.No

Service

Description of item of service

Regulatory Turn Around Time

1

New Business Proposal Processing

Processing of Insurance Proposal and seeking further requirements for consideration of the proposal

7 Days

Decision on proposal from the date of  receipt of proposal or from the date of receipt of additional requirement
whichever is later

Providing copy of the policy along with the proposal form

15 Days

2

Post Policy Service Request

Post Policy Service Requests concerning mistakes / corrections in the Policy document

7 Days

3

Free-Look Cancellation

Free Look Cancellation & Refund from the date of receipt of request

4

Policy Servicing (from the date of receipt of request for the service specified)

Change of Address (KYC Norms to be complied)

7 Days

Registration /Change of Nomination, Assignment.

Inclusion of new member in case of group policy

Alteration in ORIGINAL POLICY CONDITIONS (where applicable)

Policy loan

Unit / Index Linked Insurance PolicySwitch, Top-up, and oth

Decision on Policy Revival after receipt of all requirements.

Issue of Premium Payment Certificates (PPC)

Issue of Duplicate Policy

7 Days

5

Death claims

Death claims settlements (not requiring investigations)

15 Days

Early death claims requiring investigations - decision & payment

45 Days

6

Survival, Maturity, annuity payments

Settlement of Maturity Claims

On Due Date

Settlement of Survival Benefits

On Due Date

Annuity payments/ Pension Payment

On Due Date

Surrender or partial withdrawal of Policy

7 Days

7

Auto Action by the Insurer

Premium Due Intimation

One month before due date

Policy payments information (Survival Benefits, Maturity Benefits, etc.)

8

Complaints

Acknowledgement to complainant

Immediately

Action on Complaint & Intimation of Decision to the complainant

14 days

If complaint is NOT resolved by the Insurer, communicate the details to the Policyholder of options including referring the complainant to Insurance Ombudsman/ Consumer Court

14 days from original date of receipt of complaint. *

*(The policyholder may approach the Insurance Ombudsman if his / her complaint is not resolved within 30 days or if the decision of the company is not acceptable to the policyholder.)