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Service TATs

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Policyholder Servicing Turnaround Times as prescribed by IRDA for Life Insurance companies.

Service Maximum Turnaround Time
Pre-Issuance  
Processing of Proposal and Decision on the policy issuance 15 days
Obtaining copy of the proposal 30 days
Post Issuance  
Request for Policy Bond 30 days
Non Financial Request 10 days
Policy Withdrawal and Surrender Within 15 days from the date of receipt of complete requests and requirements
Claims  
Raising claim requirement after receiving claim request 15 days
Maturity Claims, Survival Benefits and Annuities On or before the due date
Death Claims - settlement/repudiation with investigation Effective from 1st July'17, 90 days for investigation and additional 30 days for closure of case
  Death Claims - settlement without investigation 30 days
Grievance  
  Acknowledgement of grievance 3 working days
  Resolution of grievance 15 days