ICICI as a brand name is very good and I always had good experiences with them as I hold both my salary account and credit card with ICICI. With the existing relationship and with an anticipation of better service I bought the online term plan of ICICI prudential iProtect on 11th Dec 2010. The buying exerience was not so smooth and they had lot of bugs in the application. The online application did not allow to give the space between two parts of my names.
After I purchased the policy automatic cover note with application number, sum assured and premium details reached me instantly. I have also received another E-mail with details of medical check-up details. Do not ecpect ICICI pru life to call you for getting things done. After lot of running around I have completed the medicals and documentation process.I have received a call for document collection but pycschandru021y no body turned up to collect. I had to call customer care and finally sent documents to buyonline@iciciprulife.com as per their advise.
The real story starts now. By 1st of Jan 2011, when I checked the application tracker facility given at ICICIprulife website, it showed that all the formalities from my end are done and only underwriters requirement is pending. I used to call customer care every week, and whenever there is a phone call made they say it will be done in the next "three working days". The song of three working day continuing till now without any reasoning given to me. I have escalated the matter to the chief of customer service too but the seem to be helpless and have no control over the background processes. The customer service managers are not empowered sufficiently.
After nearly two months of purchasing the policy they have come up with my document in sufficiency on 12th of Feb 2011 and requested more income proof like, my three months pay slips for further process. I did provide the same immediately. I checked the application tracker and it shows the following error and god knows what it is??
10
Discrepancy
D-IMG ERRORR
31/01/2011
Not available
PENDING
The bottom line is I am still waiting for the issuance of the policy lost almost 70 days. Seriously looking to take the refund, but not sure how long it will take.
The advise is don’t look for only price when buying the life insurance which is supposed to protect your loved ones in your absence. Please do through research and go through the reviews before you purchase insurance.
Though I am tech savy, I regret not doing enough research which I generally do, before buying the policy.