This company talks good and their customer support guy talks and follow-up with you on regular basis until you purchase the policy. Once policy is purchase they care less about you.
After getting convinced by the support guy and ignoring the ratings and feedback of mouthshut.com. I went ahead and purchased the iLIFE term policy. I was open enough to tell them well before purchasing the policy, that I have BP and cholesterol but it is under control.
they said you will need to do medical test which I agreed, however they never told or gave any information how much premium will increase. they would avoid giving any proper information or guidance on increase in premium.
After my medical test were done, the other fellow called me and told that your premium will increase by 50% because you have under treatment of BP and cholesterol. when I went for medical test, my BP was correct, the treadmill test was perfect, the lipid profile and cholesterol values in report are well in control. only the liver (SGPT and SGOT) were higher marginally but those are due to effects of cholesterol lowering drugs.
I was surprised to get 50% increase the premium. I understand to cover the risk, they will increase the premium - but such a high premium even after disclosing correct facts and that too controlled values?
then I talked to original guy whom I was talking to earlier. he did tried to explain me blah blah. but not able to give satisfactory answer.
Next day official email was sent to me with 50% increase premium and medical reports and with reason that "BP, treatment of cholesterol".
Can anyone share his/her experience and also update whether it is correct to charge 50% premium even if you are taking your health seriously and keeping yourself fit and keeping all medical reports & figures well under control?
I feel I am cheated. I have read few reviews on Mouthshut about this behavior and raising premium after you pay online. I was carried away with good customer support previous to purchasing the policy and ignored the feedback on this site.
I would advise readers to discuss about premium increase upfront with companies and never go with this company.