I was looking for a term insurance policy. I saw couple of options - ICICI iProtect, Aviva, Axa, Kotak etc. I found LIC, SBI life etc. at least 30-40% costlier than these. I decided for ICICI iProtect after noticing their better settlement ration compared rest of the private sector insurers.
Reviews on mouthshut on iProtect was very bad, but I still decided to take my chance because: 1) My one prior experiance with ICICI prudential was descent and hastle free. 2) I noticed that the bad reviews on mouthshut was about 3 months old and I did not find any recent bad reviews.
My exepriance of life insruance purchanse was seamless. Place the order on one Thursday night. Friday I got instructions for submitting documents. Submitted the documents online and I emailed them as well. Monday, I got instructions for completing medicals. Completed the medicals on Saturday. Medical results reflected on the status at their site in 9 days. Another 2 days - insurance underwriting was done and today the status says insurance is in force. That is pretty good, still awaiting the delivery of policy documents though.