Policyholder Servicing Turnaround Times as prescribed by IRDA for Life Insurance companies.
| Service |
Maximum Turnaround Time |
|---|
| Life Insurance |
|
| Surrender value/annuity/pension processing |
10 days |
| Maturity claim/ Survival benefit/penal interest not paid |
15 days |
| Raising claim requirements after lodging the Claim |
15 days |
| Death claim settlement without Investigation requirement |
30 days |
| Death claim settlement/repudiation with Investigation requirement |
6 months |
| Grievances |
|
| Acknowledge a grievance |
3 days |
| Resolve a grievance |
15 days |