Increasing PED waiting period
I recently applied for HDFC ERGO's Optima Secure Policy. The Prospectus I saw stated that PED expenses are covered after 36 months. Other sources also confirm that PED waiting period is 3 years for this policy.
However, I had disclosed 2 recent injuries (2019 and 2020) for which the underwriters have given counter offer of (1) 10% loading premium and (2) PED exclusion of 4 years.
My queries: (1) is it normal or acceptable practice to increase the PED waiting period? Doesn't this effectively make the prospectus claim of 36 months false?
(2) Will this loading premium continue to apply in case of all renewals even after expiration of a long time (say I renew in 2024, i.e. 4 years since the PED) and no related claims?
(3) I received 1 proposal/transaction number when I booked online and now have another application number after ERGO executive called me to follow up and further handling/submitting of PED documentation. Is this a normal practice or some funny business from the executive side? I am afraid of a risk of some information mismatch.
Would like to understand before I finalise decision on acceptance/non-acceptance of counter-offer.