COMMUNITY FORUM: CREDIBLE INDUSTRY EXPERTS ANSWER YOUR INSURANCE QUERIES

In the annual report of IRDAI, Under the STATUS OF INDIVIDUAL DEATH CLAIMS OF LIFE INSURERS, there are two columns - Claims Repudiated & Claim Rejected. What is the meaning of claim repudiated and what is the difference between these two?

I've been advising my brother for his term life purchase. We're confused as to how we choose the "Smoking" scenario. He's smoked for the last 9 yrs (32year old). He's quit since the last 1.5 yrs, almost fully. Might be smoking a stick here or there in a month or two. How should we DECLARE THIS AND how should we CHOOSE BETWEEN SMOKER/NON SMOKER?

Is there a way that the Insurer too can ascertain his smoking status, so as to help end this conundrum (Looking at ICICI, Max)

Dear All,

How is the new LIC tech term policy for a 27 year old in comparison to other term insurance plans. Will the convenience be the same since there is no agent in between?

Cheers

Anirudh

Being Amex customer I was reached out for a member only Exclusive policy by PNB MetLife. The only benefit I see is Amex claims 100% Settlement ratio and default Critical illness cover (But they dont have any list published and they claim it will be taken on case by case basis). The premium was pretty much same as per open market policy (I see a few hundred more than open market). Is there anyone who analyzed such policies?

Hi,

I am 26 yo and planning to purchase a term insurance for myself. I have been spending most of the time on PolicyBazaar website and talking to their executives to know and compare different term insurance products.

My queries in this matter are as given below.

1. Is it advantageous in any way to purchase term insurance from platforms such as Policy Bazaar (PB) or to directly buy from the Insurers themselves.
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3. PB and other platform advertise a lot about claim settlement assistance service provided to the family free of cost; Is this very much required? I understand that the insurers themselves have their claim assistance executives; how is the claim settlement experience with them as compared to platforms like PB?
4. I am considering to buy Max Life Term plan (Max Life Online Term Plan Plus); Just for the sake of comparison, I looked up the same plan on Max Life's website; there I found that the premium was less as compared to PB and that the riders offered differed from PB; on PB I had the option to choose Accident disability rider but the same was not available on Max Life's own website.

Is this normal that the riders/features offered for the same product differ on 2 different platforms?

Any assistance with the above queries is very much appreciated.

Thanks and Regards.

1) For NRI term insurance buyers, can insurance company waive of GST entirely ? Person working for Tata AIA says he can waive for GST entirely for the term plan which i am planning to buy. He is explaining that NRI customers has this option. Is this really true ? Is it legal or will my dependent be ending up in any issue in future when the policy matures ?

2) Also other HDFC life and Tata Aia , any other company offers term insurance online for NRI's to buy the policy when not in india ?

I haven't found a detailed review of Bajaj Allianz Term Insurance. I would love to see the detailed comparison of TATA AIA and Bajaj Allianz. Beshak Team please provide a detailed review.

I have completed online process of lic tech term plan and have purchased plan for 40 years term of 50 lacs , on 17th march 2022 and now is 27th March, but still i have not got policy yet inspite of completing the Medical check up , can anybody share there expirence for this plan how much time will it take for policy to get recived? As the only contact they have shared is of TPA but they are not at all responding as its online plan .

s there any way (other than renewal) to get back the premiums paid in a lapsed insurance policy??I have paid three premiums of the policy. Now lapsed. Can i get anything back??

Dear Sir I bought jeevan anand plan 149 in 2013. It's 24 years to be paid. This year I didn't paid and I want to surrender the policy. Can I do this... And how much amount I wl get back now. I paid till now 9 years. Kindly help.