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The Company shall follow the below mentioned turnaround time for various service parameters. The turnaround time mentioned below shall be compliant with the IRDAI (Protection of Policyholders’ Interests) Regulations, 2017.
Description of item of service | Turn Around Time (working days) |
---|---|
Processing of Proposal and communicating the acceptance /rejection | 15 days |
Obtaining the copy of Proposal form | 20 days |
Issuance of premium receipt | 10 days |
Issuance of Policy Document | 10 days |
Issuance of duplicate policy on request | 10 days |
Endorsement: | 10 days |
a) Increase/Decrease in sum Insured | 10 days |
b) Change of Location of risk | 10 days |
c) Change of Address | 10 days |
d) Change of Nominee | 10 days |
e) Correction of errors in the policy | 10 days |
f) Inclusion and deletion of financial interest | 10 days |
g) Inclusion of new members in case of Group policies | 10 days |
h) Any other non-claim related changes | 10 days |
Cancellation Policy and refund of Premium | 15 days |
Appointment of surveyor from receipt of claim intimation | 3 days |
Issuance of Claim form | 3 days |
Initial surveyor’s report after appointment | 7 days |
Interim survey report from first surveyor visit | 15 days |
Request for (additional) documents for claims processing | 15 days |
Final surveyor report from the last document receipt date | 30 days |
Settlement / rejection of claim post receiving surveyor report- In case where Investigation is not required | 30 days |
Payment of Claim on acceptance by the Insured | 15 days |
Issuance of NCB Certificate | 15 days |
Any other service request | 10 days |