Looking for good term Insurance

ankitsr

Active Member
Sorry to hear that Prasham . Were these the standard set of documents specified/declared to be required somewhere? Also does one has to pay prior to all such documentation? So are you planning to buy HDFC C2P/+ now?

Ultimately they have to pay you back. Please approach their greivance cell rather than customer care. You could escalate to IRDA is absence of a resolution.
 

Prasham

Armchair Traveller :(
Sorry to hear that Prasham . Were these the standard set of documents specified/declared to be required somewhere? Also does one has to pay prior to all such documentation? So are you planning to buy HDFC C2P/+ now?

Ultimately they have to pay you back. Please approach their greivance cell rather than customer care. You could escalate to IRDA is absence of a resolution.

I had routed through Policy Bazaar and they didn't tell me about those documents. Due to some technical issues I didn't wish to share those documents with Max. Instead of talking with me about why they require those documents they straight away denied the application :(

I've already involved the Greivance Cell in the matter and I hope I'll soon get the refund :)
 

ashish0712

TravelForNirvana
Hello Everyone,

Need to be little patient as there is a Time Lag of 1 month atleast in Policy issuance. My experience with HDFC Life was Good...To Expedite the Process it's always better to provide all the relevant documents.

I am not sure if reviews on Mouthshut can be taken too Seriously...Most of the Time they are Too Biased

Both MAX Bupa and HDFC Life are Good, But most important point while buying Term Insurance is to give Correct Information about your Health. No Point in Claiming you are Non-Smoker just for reduction in Premium.

Hope it Helps !!!
 

moto143

Active Member
Even i got the HDFC click to protect plus recently. I had to shell out 4.8k per annum for 50L cover. Compared to LIC, it was a very good deal. Like some of the posters mentioned above, HDFC functions very slow. In my case i had to undergo some medical tests too. I took them nearly 1 and half of months to issue the policy partly due to my laziness in submitting the documents in time.
 

ankitsr

Active Member
Wanted to share feedback on two Term Insurance recently purchased-

Max Life - Good and speedy service so far. Had medical tests done at home and policy was processed promptly (15-20 working days from the payment). The policy contained all mail communication done between myself and Max along with the medical reports.

Kotak Life- Avoid this one like hell. Though a bit cheaper than Max and only slightly lower settlement ratio led me to them. After more than 40 days of repeated follow ups (after payments,medical tests and details shared) I was finally told that I need to pay 1.5 times the premium due to my "personal medical history" (I do not suffer from any grave disease and all medical tests were clear). I understand that may have their own benchmarks to judge fitness standards which might be different from Max but their service standards,tranparency and response times are pathetic.
Had bought another plan from Kotak for wife as well and here too haven't heard back yet since a month.
Finally I have asked them to refund the premiums fro myself and wife as I have lost faith in them and do not want to go ahead having seen their 'service' quality already. I was told that the medical charges would be deducted from the refunds(against what was conveyed at the time of buying) but no news of how much and when since past 15 days again!!

I am finally looking for another term plan in place of what I bought from Kotak. Will update how it goes.
 

ravi200223

Super User
Wanted to share feedback on two Term Insurance recently purchased-

Max Life - Good and speedy service so far. Had medical tests done at home and policy was processed promptly (15-20 working days from the payment). The policy contained all mail communication done between myself and Max along with the medical reports.

Kotak Life- Avoid this one like hell. Though a bit cheaper than Max and only slightly lower settlement ratio led me to them. After more than 40 days of repeated follow ups (after payments,medical tests and details shared) I was finally told that I need to pay 1.5 times the premium due to my "personal medical history" (I do not suffer from any grave disease and all medical tests were clear). I understand that may have their own benchmarks to judge fitness standards which might be different from Max but their service standards,tranparency and response times are pathetic.
Had bought another plan from Kotak for wife as well and here too haven't heard back yet since a month.
Finally I have asked them to refund the premiums fro myself and wife as I have lost faith in them and do not want to go ahead having seen their 'service' quality already. I was told that the medical charges would be deducted from the refunds(against what was conveyed at the time of buying) but no news of how much and when since past 15 days again!!

I am finally looking for another term plan in place of what I bought from Kotak. Will update how it goes.
Try Aviva life term plan with cash back (all payment paid by you)
 

rahi

Active Member
I too bought Aviva ilife for yearly premium of Rs. 5700/- for 50L cover four years back with no cash back. So far going good.
Planning to add some more cover...
 

ravi200223

Super User
I too bought Aviva ilife for yearly premium of Rs. 5700/- for 50L cover four years back with no cash back. So far going good.
Planning to add some more cover...
You can try Aviva life shield advantage term with all premium back guaranteed
 

ankitsr

Active Member
'Return of premium' plans are not really advisable for term insurance plainly because they are costlier and one should not mix insurance with investment.

As as example- the money saved by buying a plain vanilla term insurance can be invested elsewhere (say mutual funds), which would give much better returns than it being returned back(without any growth) at the end of insurance period.
 
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