COMMUNITY FORUM: CREDIBLE INDUSTRY EXPERTS ANSWER YOUR INSURANCE QUERIES
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A friend is buying term insurance and he stopped smoking 3 months back. Should he opt for a smoker premium or a non-smoker premium? He is in the process of applying.
In health insurance, family floater, is it better to have a basic policy of 15 L,
a basic policy of 5 L plus a super top up of 10 L ?
What are the pros and cons of buying health insurance online as compared to buying it from an agent offline?
I know one has to pay a commission to the agent for the advice he/she may give. But if I have decided on a policy already and want to buy it, are there any other benefits to still go with the agent?
This question is for Mr. Shailesh Kumar from Insurance Samadhan.
I have purchased a policy for my father and made my sister proposer since she pays the premium & needs tax benefit. The email id & phone number linked mentioned in this policy is mine and not of my sister since I live with my father and take care of him as my sister is married. I took this policy before my sister's marriage. In this policy the postal address is ours.
1) If I purchase a new policy for my self using same email and phone number, will it create any problem as on same number and email there will be 2 policies - in one proposer is my sister and in one proposer is me. Can insurance company say how same phone and email is linked to two policies with different proposers and reject claim.
2) if my sister purchases a policy for herself and her husband from same company and uses different email address and phone then will be there any problem as now under her name she will be proposer in two policies one for her family and other for our father and both policies will have different phone number, email address. Also my sister will put postal address of in laws in her policy so both the policies wil have different postal address. So can this lead to claim rejection?
If someone has Oriental insurance- Family Floater Health policy as well as top-up health cover from oriental insurance and wants to voluntarily donate a kidney to a close relative. How should he proceed with the insurance company? What are the implications on his future insurance premium and renewal as well as claim acceptance if he acquires medical issues during the transplant or afterwards as a result of the transplant .
If someone has HDFC Life click to protect term insurance plan and wants to voluntarily donate a kidney to a close relative. What are the implications on his insurance premium and renewal as well as claim acceptance if he dies during the transplant or afterward.
What is the difference between critical illness and terminal illness . Is there any list approved by Govt Or IRDAI?
First of all, thanks for running this community. I am planning to take a family floater health insurance policy for myself, my wife and my daughter. Few things that I am looking for is no capping on the room rent and the restoration benefit.
The two policy that stood out were Niva Bupa Reassure and HDFC Ergo Optima Restore. Now I am bit confused towards Niva Bupa due to their negative reviews online though it sounds better on paper than HDFC Ergo.
Does anyone have any views or suggestions for me. There are few more questions that I’ll ask later.
Thanks in advance
Hello. Could you suggest the available maternity policies, with minimal waiting period? I understand most of the health insurance policies do not provide maternity coverage.
I regret I didn't know about this website on that day - the day i decided to pay the advance premium for an LIC Tech-Term policy for a coverage of Rs.1.5 crore. March 5th 2022 was that fateful day. The experience of getting this policy issued (which has not happened till date - 11.05.2022) have been very annoying. For ages, having seen LIC agents ubiquitously going around and making sure 'every Indian' takes a policy, I'm really taken aback by the treatment I'm getting from LIC regarding this policy. In stark contrast to normal policies sold through agents, I as a customer have been chasing LIC and their TPA with no avail and been left to run from pillar to post with no response either through email, twitter or over phone. There is no one to answer any of the doubts or queries. Once the medical rep of the TPA retorted that my case is moving relatively faster and it normally takes more than 3 months. My first medical test as per underwriters requirement was conducted very quickly, within the first week of initiating the proposal online. But as there was no response for almost a month, I contacted LIC with a strong worded email and after two days they replied that they didn't get the medical report and then I chased up with the TPA and they told they had already given that. Then i got a copy of the report and mailed it to LIC. After a week, the underwriter had a revised requirement of testing HIV. Fortunately I was able to get it done by their medical agent pretty soon and this time I keenly followed up with the TPA and obtained a copy of the test report from them and mailed straight to LIC. Two days later from LIC I received a copy of the email originally addressed to the TPA asking explanation from DC & MSP why they did the HIV test by CMIA method when asked to do it by ELISA method. I immediately called the medical agent and was super lucky enough to get him connected so fast and told this and he replied they do it this way in all the cases from time immemorial and will right away give a explanation to LIC with a copy marked to me which never came to me till now. Its 3rd week since then.Meanwhile i tried filing an RTI with IRDAI and tweeted tagging even the health minister and all other parties involved (i don't know whether i was wrong. but i was desperate). Nothing worked till now.
To make this worse, I have been going through a busy work schedule recently and in between i hardly find any time to spend researching on all these things and chasing up with all these, Then i thought i would search for some forum online if available in this area and ask advice on further courses of action to get this policy issued at the earliest. Now I don't need advice on that, as from here I got enlightened that there are better term insurance policy providers around.
Now can someone tell me
- How better and quickly can I get my head off from this yoke ? I want to get back my first advance premium paid. How much from the premium paid in advance will be deducted or will I not get any refund at all ? I've not paid for any of the medical tests done so far.
- Procedure to cancel the policy registration done online in LIC website. Any contact details which responds faster would be very much appreciated ?