Services & TAT

Policyholder Turnaround Time as Prescribed by IRDAI

Service

Maximum Turnaround Time

Proposal Processing

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

Service Requests

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

Payout Processing

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

Claims Processing

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

Grievance Redressal

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