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Terms and condition

Service TAT - Health

In accordance with the Insurance e-Commerce Guidelines issued by IRDAI on xxxx, Company shall follow the following service TAT for the online sale of insurance products through its ISNP https://simplehai.axisdirect.in/Insurance Insurance. The Company shall endeavor to follow the below-mentioned service level TATs subject to receipt of necessary information and documents from insurers:

Policyholder servicing turnaround times are as follows:
Service parameters Maximum TAT* (calendar days) The turnaround time to be calculated from
Written communication of decisions on the proposal / raising additional requirements on the proposal 7 days Date of receipt of the proposal or the date of receipt of any requirement called for, whichever is later
Requests for refund including free look cancellation, surrender and withdrawal; refund of proposal deposit; refund of outstanding proposal deposit, if any 7 days Date of receipt of (a) request, or (b) last necessary document, whichever is later
Post policy servicing requests 7 days Date of receipt of (a) request, or (b) last necessary document, whichever is later
Resolution of Grievance 14 days Endeavor to provide a resolution on the Grievance within 14 Days of receipt of Grievance

*The TATs are defined for raising the customer requirements / grievances and coordinating with the respective insurers for resolving the service issues that are dependent on the insurers for resolution. ASL will not be in breach of the TATs if the matter is pending resolution from the insurer.

Service TAT - Life

Policyholder servicing turnaround times are as follows:
Service parameters Maximum TAT* (calendar days) The turnaround time to be calculated from
Written communication of decisions on the proposal / raising additional requirements on the proposal 7 days Date of receipt of the proposal or the date of receipt of any requirement called for, whichever is later
Requests for refund including free look cancellation, surrender and withdrawal; refund of proposal deposit; refund of outstanding proposal deposit, if any 7 days Date of receipt of (a) request, or (b) last necessary document, whichever is later
Post policy servicing requests 7 days Date of receipt of (a) request, or (b) last necessary document, whichever is later
Resolution of Grievance 14 days Endeavor to provide a resolution on the Grievance within 14 Days of receipt of Grievance

*The TATs are defined for raising the customer requirements / grievances and coordinating with the respective insurers for resolving the service issues that are dependent on the insurers for resolution. ASL will not be in breach of the TATs if the matter is pending resolution from the insurer.

Term Life:

Term Life Insurance is a policy that provides financial protection to your family in case of your untimely death during the policy term. It pays a lump sum (death benefit) to your beneficiaries.

High coverage at low premiums.
Financial security for your family.
Tax benefits under Section 80C of the Income Tax Act.

You can choose a term that suits your needs, typically ranging from 5 to 40 years or up to a specific age (e.g., 65 years).

Your age, health condition, policy term, sum assured, and lifestyle habits (like smoking or drinking) influence the premium amount.

Most policies offer a grace period (usually 15–30 days). If you fail to pay within this period, the policy may lapse.

A standard Term Life Insurance policy does not offer any payout if you survive the term. However, some plans offer a return of premiums as a benefit.

Health

Health Insurance covers medical expenses like hospitalization, surgeries, and treatments, reducing your financial burden during health emergencies.

Covers hospitalization and medical expenses.
Includes pre- and post-hospitalization costs.
Offers cashless treatment at network hospitals.
Provides tax benefits under Section 80D.

A waiting period is the time you need to wait before certain benefits (like coverage for pre-existing conditions) become active. It ranges from 30 days to 4 years depending on the policy.

Cashless Claim: Get treatment at a network hospital, and the insurer settles the bill directly. Reimbursement Claim: Pay the hospital first, then submit bills to the insurer for reimbursement.

Yes, family floater plans allow you to cover your spouse, children, and sometimes parents under a single policy.

General

Absolutely! Term Life and Health Insurance serve different purposes and provide comprehensive protection when combined.

Yes, policies can be canceled during the free-look period (usually 15–30 days after purchase) or anytime later, subject to terms and conditions.

Yes! Term Life and Health Insurance can be bought for anyone in your community/family.