Service Maximum Turnaround Time
NEW BUSINESS
1) Policy Issuance 15 Days from the date of login, Company shall provide communication with respect to acceptance/rejection of proposal to customer.
2) EIA Creation 15 days from the date of Issuance, Company shall open EIA Account to customers who have applied for the same.
3) Policy Dispatch 30 Days from the date of issuance, Company shall dispatch proposal form copy to customers.
4) POS Product 2 Days from the date of login, Company shall provide communication with respect to acceptance/rejection of proposal to customer.
POLICY SERVICING
1) Refund of proposal deposit Within 15 days from date of underwriting decision on the proposal
2) Request processing:
a) Free Look Cancellation Within 15 days from date of request or last necessary document received
b) Surrender
c) Partial Withdrawal
d) Refund of proposal deposit
e) Outstanding proposal deposit
f) Other servicing requests
3) Processing of:
a) Maturity claim On or before due date
b) Survival Benefit
c) Annuity payment
CLAIMS
1) Raising claim requirements after filing the claim Within 15 days of receipt of claim
2) Settlement (Paid, Rejected or Repudiated) of Death Claims for which further investigation is not required Within 30 days from the date of receipt of last necessary document
3) Settlement or Rejection of Death Claims for which investigation is required
a) Investigation should be completed within 90 days from the date of intimation
b) 30 days over and above the 90 days to settle, repudiate or reject a death claim
120 days from the date of receipt of claim intimation