We feel proud, when we know our
rules and regulations towards our duty and rights. We have very strong law for
every field and their basic aims are providing and protecting our rights. During
the sessions of Kaun Banega Crorepati, we have learned many things from star of
the millennium Amitabh Bachchan Jee. His one sentence is most effective i.e. “knowledge
is the power”. If you have knowledge you not need to have the power of money,
power of manpower, power of links etc. Sometime we forget our rights or we don’t
know what our actual rights are, in that time other are enjoying the event to
offer their help with monetary benefits, might be you will agree and get completed
our task. But can anyone tell me is it the right way?
We need to focus in our knowledge,
at least for those sectors where our works persist many times. Can you know
basic rights toward insurance? How Insurance Company liable to give you
services within time frame as prescribed by IRDA. IRDA can make rules for you,
but you can take the advantages of rule when you know these basic rules.
Policyholder
Servicing Turnaround Times as prescribed by IRDA
|
Service
|
Maximum Turn Around Time
|
|
General
|
|
|
Processing of Proposal and Communication
of decisions including requirements/issue
of Policy /Cancellations
|
15 days
|
|
Obtaining copy of the proposal
|
30 days
|
|
Post Policy issue service requests concerning
mistakes/refund of proposal deposit and also
Non-Claim related service requests
|
10 days
|
|
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
|
|
General Insurance
|
|
|
Survey report submission
|
30 days
|
|
Insurer seeking addendum report
|
15 days
|
|
Settlement/rejection of Claim after 30 days
receiving first/addendum survey report
|
30 days
|
|
Grievances
|
|
|
Acknowledge a grievance
|
3 days
|
|
Resolve a grievance
|
15 days
|
If Insurance Company not give the
above services in given time frame you may directly complaints to IRDA and they
will definitely support you. This entire thing only is possible when you know
your at least basic right towards insurance. IRDA also had made mandatory to
display these banners to every insurance offices. Only one thing is very
important i.e. your knowledge. So be knowledgeable and fight with the system.
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