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
Dispatch of policy document including copy of the proposal
30 days
All Service Request (Excluding Claim and Payouts that are specifically detailed below)
10 days
Surrender value, Loan, Partial Withdrawal and Free look cancellation
15 days
Annuity payouts
T Day( Policy Anniversary Date)
Processing of Maturity claim / Survival benefit
T Day ( Policy Anniversary Date)
Death claims – Raising requirements after lodging the claims
15 days
Death claims (without investigation)
30 days
Death claims (with investigation ) -
i. To complete investigation
90 days
ii. Processing payout after investigation
30 days
Health claim decision (without Investigation)
30 days
Health claim decision (with Investigation)
i. To complete Investigation
30 days
ii. Processing payout after Investigation
15 days
Acknowledge a grievance
3 business 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