My friend had bought an online term plan from a reputed co. however when claim came, they simply refused claim, saying that u have not mentioned the correct details in the form, and also there were lot of exclusions, which the company did not tell.
I recommend that only u should buy term plans from an established financial advisor, whom atleast can be contacted if anything goes wrong, in online term plan, the premiums are lower than offline, but when it comes to servicing, the company does not respond, and as also there is no intermediary, so, don’t know whom to approach.
Had, my friend bought through some insurance/financial advsor, we would not have had to suffer this...