Survival Benefit

1. Where can the survival benefit be viewed in the system.

Steps to Check in the System:

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Click on the "Bonus Payout Transaction" tab on the left-hand side of the screen
4. The Survival Benefit amount will be shown under "Payout Amount"

Cash Bonus Payment

2. Where can cash bonus credited information be accessed in the system.

Steps to check cash bonus credited information in the System

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Click on the "Bonus Payout Transaction" tab on the left side of the screen.
4. The "Process" status shows the number of payouts processed to date.
5. The "Scheduled" status displays the next payout scheduled for the customer.

Cash Bonus Frequency Change

3) How can a policyholder update cash bonus frequency, and where can this change be tracked in the system?
Ans: The cash bonus frequency can be updated through the iAssist portal or by submitting a manual request.

Steps to Manually Modify Cash Bonus Frequency

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Payout Frequency Switch"
8. Choose "Email" as the Source.
9. Select "After" or "Before" for the Request Time based on the email's received time
10. Add the required comments
11. Select the new Payout Frequency
12. Set the "Requested On" date as the email's received date
13. Click "Submit"

Steps to track changes in the system

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search."
3. Click on the "Service Requests" tab on the left side of the screen
4. The agent can track the switch under the "Service Payout" tab, reflected as "SWITCH_PAYOUT_TYPE"

Cash Bonus Accumulation

3. Where can the accumulated bonus be verified in the system.

Steps to View Policy Accumulation Details:

1. Visit Ops Console V2
2. Enter the Policy Number and click "Search"
3. Navigate to the "Policy Details" tab on the left side of the screen
4. Select the "Payout Details" tab
5. The accumulation type will be displayed under "Payout Type"
6. The total accumulated amount will be shown under "Total Accumulated Amount"

Note:

• Customer can request to process fund withdrawals up to 6 times within a policy year
• The minimum withdrawal amount is ₹2,000, while the maximum is the total accumulated funds
• Withdrawals below ₹2,000 are not permitted

Withdrawing Accumulated Bonus

4. How can a policyholder withdraw their accumulated cash bonus.

Steps to how to withdraw accumulation cash bonus

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Payout Withdrawal"
8. Choose "Email" as the Source
9. Specify the Request Time as "After" or "Before" based on the time the email was received
10. Add the necessary comments
11. Select the "Payout Date" and the "Withdrawal Type"
12. Enter the "Withdrawal Amount".
13. Input the "Withdrawal Date" and "Requested On Date"
14. Click "Submit" to complete the process

 Switching Payout Options

5. What is the process for a policyholder to switch from regular cash bonus payouts to accumulation.

Steps to switch from regular cash bonus payouts to accumulation

1. Visit Ops Console V2
2. Click on the "Quick Links" tab above the search button
3. Enter the Policy Number and click "Search"
4. Select the "Request Module" option
5. Choose the "Request" option under Case Type
6. Select "Minor Alteration Transform" under Sub Case Type
7. Set the Case Reason to "Switch to Accumulation”
8. Choose "Email" as the Source.
9. Select "After" or "Before" for the Request Time based on the email's received time
10. Add the required comments
11. Select the “Accumulation” as new Pay out Type
12. Set the "Requested On" date as the email's received date
13. Click "Submit"

Note:

Customers can submit a switch request once every 90 days, allowing up to 4 requests in a year. However, the customer has approached us 15 days before their scheduled payout date.

For instance, if the next payout is due on December 12, the customer should submit the request by November 28.

Maturity Benefit

6. Where will the maturity benefit of this product be reflected in the system.

Ans The customer will receive the maturity benefit once the Premium Payment Term (PPT) is completed. After completing the PPT, the customer is entitled tthe annualized premium amount, excluding GST.

• If the customer has opted for the accumulation payout, it will be disbursed along with the annualized premium
• If the customer has chosen the cash bonus option, any amount reflecting in the system will be paid at the time of maturity

Policy Loan

7. How can a policyholder apply for a loan under this policy.

Ans The loan process remains unchanged; however, customers can apply for a loan only after the policy has completed one year.

 Policy Surrender

8. What is the process for surrendering the policy, and where can the surrender amount be checked in the system.

Ans The surender process remains unchanged; however, customers can apply for a surender only after the policy has completed one year.