LIC Tech Term insurance - a frustrating experience
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 ?