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
session of Kaun Banega Crorepati, we have learned many things from star of the
millennium Mr. 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 politics, power of guns etc. Sometime we forget our rights
or we don’t know what’s 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 on our knowledge, at
least for those sectors where our works persist many times. Do 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 approach 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 insurers offices. Only one thing is very
important i.e. your knowledge. So be knowledgeable and fight with the system
with honesty.
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