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)

Could anyone pls indicate difference between two plan?

Bcz premium is significantly diiferent.

Unable to find any key difference

Tata AIA Life Sampoorna Raksha V/S Maha Raksha Supreme

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?

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.

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

I am 34 & had applied for the term insurance this month through Max Life. I paid up the premium amount & underwent medical examination. Today, they informed me that the policy has been moved in postponed state as I am under treatment (for epilepsy) currently.

1) What is postponed state, Am I still eligible for policy from them or I should consider this as policy rejection.

2) Will my family get insured amount during claim if I get policy from them.

3) Should I try in other company if they are postponing for some duration,

4) What are other alternates to safeguard my family instead of term insurance in my absence?

I am 41 years Male. Is this policy good

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 ?