Service TAT

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Policyholder Servicing Turnaround Time 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	48 hours
Resolution of grievance	15 days