Saw that almost all reviewers of HDFC life insurance on mouthshut had a bad experience.
Thought of sharing my experience which was surprisingly good.
I applied online for the Click2Protect term insurance policy(sum assured 75 lakhs for 25 years) on Nov 3rd 2013. It took about 45 minutes to fill out all the required details for the application. I made sure to provide the details of a treatment I had underwent two years ago. I also disclosed the fact that my father has been taking medicines for high blood pressure for last many years. Also provided the details of a LIC policy(5 lakhs sum assured) held by me. Once all the required information was filled out, I proceeded to pay the premium through internet banking. Though the payment was made and money deducted from my account, I did not get a confirmation page on the screen(probably due to my not-so-fast net connection). I immediately called up customer care on the toll free number and was able to reach them in about 5 mins. The customer care exec asked details of the policy which I had applied, the premium that was paid etc.
Once he verified the details, he confirmed the payment had been received and sent me an email with the policy application details.
As part of the online application I was asked to submit certain documents(self attested ID, address and income proof and a cover note with photograph) that were needed to process my policy request. I scanned the copies of these documents and sent it via email after 3 or 4 days.
In a week’s time I received calls from HDFC life executive informing that my application is being processed. They asked me to submit the documents related to the diagnosis/treatment for the illness that I had declared during the application process. I said that I did not have it. So they told me to send a declaration(by email or courier) that I did not have the required documents. I sent the declaration email on the same day.
Few days later, I got an email from HDFC life to undergo certain medical tests at a lab(Medivision, Kochi) with which they have tie-up. They fixed an appointment at the lab on 16th and I underwent the tests. It involved routine blood and urine analysis and a test related to the illness I mentioned in the application.I paid the medical test expenses(Rs.1125/-) at the lab, which I was told, will be reimbursed after policy is issued. The lab authorities informed that test results will be sent directly to HDFC Life.
On Nov 23rd I received an email that my policy request is accepted and an e-policy was attached. On Nov 28th I received the physical policy document at my home through Speed post. The time taken from online application to the receipt of the policy was 25 days.
I then sent an email attaching the medical bill copy and requested for the refund of the medical test bill. Though there was a delay in getting response, they replied telling me to submit the original bill at the nearest HDFC life office. I submitted it on Dec 22nd at the Kochi office and after 4 days, I got a call from them that the cheque is sent by courier.
The only thing I didn’t like was different customer executives calling for the same thing, even after the requested details have been provided. One person would call you today asking for some info, two days later someone else will call asking for the same.
Sharing some tips based on my experience:
Keep the relevant info(like personal details, existing life policy details if any etc) handy at the time of filling out the application.
Disclose all information to the best of your knowledge including the details of your/family member’s past/current medical status. It is better that insurance company be aware of it now, than getting to know at the time of a claim.
Though there is option to send documents through post/courier, sending through email will ensure that your policy application is processed faster.