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AEGON Life

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AEGON Life
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Abhishek @jainabhishek8
Apr 02, 2013 12:10 PM, 6372 Views
(Updated Apr 04, 2013)
Claim settlement ratio doubt

I like every thing about this product. its cheap, its simple to buy, customer care is prompt. however I have doubt on their claim settlement ratio. As mentioned on their website that the claim has been rejected since the policy holder was suffering from Asthma, BP etc at the time of policy issue.


My question is since there a medical test done by company and if anything is found wrong, premium is adjusted accordingly. Why are claims rejected stating these reasons afterwards?


Also how is it guaranteed that my my claim will be honored. I have provided correct details as per my knowledge (not diabetic, no BP). If the policy is issue to me should I consider that all my medical reports were fine?

 (4)
(4)
AEGONLife Deactivated
Dear Sir,The claim that was rejected was a non-medical case for sum assured of 10 lakhs. Medicals are generally conducted for cases for policies of sum assured of 50 lakhs and higher. In certain cases where an individual is lets say 50 years old and wants a cover of 25 lakhs, still the medical tests would be triggered. But generally for 50 lakhs and above sum assured is mandatory for all individuals. If you see the claims rejected, both polices were non-medical policies for sum assured 10 lakhs in which medicals are not mandatory and the company relies on customer to declare all his details correctly, which wasn't the case. I absolutely understand your concern here when you mention, why was the claim rejected since the company conducts medicals. So to answer your query, we have not rejected a single medical case where-in we have conducted medicals. All 13 cases were processed within 14 working days and cheques handed over to the nominees personally by our senior representatives.We also have an online claims process wherein the nominee doesn't need to call anyone but simply log on to the website and submit a claims nomination by simply entering the policy no.The link is herein. http://www.aegonreligare.com/customer-service/claims/online-claims-intimationSir, no life insurance company can reject a genuine claim. Please declare your medical and family history correctly to the best of your knowledge while applying for any life insurance policy and be rest assured your claims (God forbid if any) will definitely be honored. Hope I have managed to answer your query. Please feel free to get in touch with me for any further queries.Regards,Sourav.shah@aegonreligare.comSr. Manager (AEGON Religare)
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