Service Charter

Policyholder Turnaround Time as Prescribed by IRDAI

Service

Maximum Turnaround Time

On-Boarding Process

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

Freelook

Regular Purchase

15 days

Electronic Purchase and Distance Mode Policies

30 days

Service Requests

All Service Request (Excluding Claim and Payouts that are specifically details below)

10 days

Payout Processing

Surrender value, Loan, Partial Withdrawal, Freelook cancellation, Annuity & Pension payouts processing

15 days

Claim Processing

Annuities / Survival benefits -

On the due date

Maturity claims (Traditional products)

On the maturity date

Maturity claims (Linked Products)

7 Days from maturity date

Maturity claims (Pension Products)

On the maturity date or 7 days

from receipt of complete documents

whichever is later

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

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

Grievance Redressal

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