Policyholder Turnaround Time as Prescribed by IRDAI
Service
Maximum Turnaround Time
Processing of New Business Proposal and Communication of decision including requirements
15 days
Issue of policy
15 days
Cancellations
15 days
Dispatch of policy document including copy of the proposal
30 days
Post policy issue service requests concerning mistakes
10 days
Refund of Proposal deposit
10 days
Non-claim related service requests
Change of address
Change of Contact Details
Change in Nomination
Assignment of Policy
Policy Related Information
Issuance of duplicate policy document
Change in policy details (sum assured, / premium / rider .etc)
Reinstatement of policy
Change in payment method / mode
Unit Linked transactions (Fund Switch, Premium Redirection, Top Up etc)
Providing premium paid receipts, unit statements etc.
10 days
Surrender value, Loan, Partial Withdrawal, Freelook cancellation, Annuity & Pension payouts processing
10 days
Processing of Maturity claim / Survival benefit / penal interest not paid
15 days
Raising claim requirements after lodging the claim
15 days
Death claim decision without investigation requirement
30 days
Death claim decision with Investigation requirement
6 months
Acknowledge a grievance
3 days
*Resolve a grievance
15 days
* Calculated in calendar days
Tata AIA Life provides periodic updates to our customers through SMS and Email regarding the status of their proposal and requests, hence we urge you to ensure that your mobile number and email address is updated in our records.
Tata AIA Life Insurance Company Ltd. (IRDA of India Regn. No.110 • CIN No.: U66010MH2000PLC128403).
Registered and Corporate Office Address- 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel,Mumbai 400013. Visit us as www.tataaia.com. L&C/Misc/2015/Sep/269