} Life Insurance Policy Procedure - Turn Around Time

Service Guarantee/Turn Around Time (TAT)

                     
GENERAL
Processing of Proposal and Communication of Decisions including requirements/issue of policy /cancellations 15 days
Obtaining copy of the proposal 30 days
Post policy issue service requests concerning mistakes/refund of premium on account of freelook cancellations and also Non claim related service requests 15 days
Refunding of proposal deposit under any circumstances 15 days from the date of underwriting decision date
LIFE INSURANCE
Surrender value/annuity/pension processing 15 days
Maturity claim/survival benefit/penal interest not paid 15 days
Raising claim requirements after lodging the claim 15 days
Death claim settlement without investigation requirement 30 days
Death claim settlement /repudiation with investigation requirement 120 days
GRIEVANCE
Acknowledge a grievance 3 working days
Resolve a grievance 15 days
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