I had the misfortune of taking a Health cover in 2005. The chap who tricks you into this never gives full details. The premium for me &wife was 18473 /- for 2 years.I made the cardinal mistake of paying through ICICI Card.So the premium worked out to 890 /- instead of 770 /-. After 4 months my wife had to undergo D& C at one of the authorised Hospitals. As pre sanction would take time, I was asked to pay the Bills & submit for reimbursement.When I applied, the Bills were giftwrapped and returned with remarks -- " Bills are not admissible as per clause No...so &so ". I checked the so called clauses in the Policy with a magnifying glass---there they were written listing out all possible ailments which a normal mortal gets, are not admissible for 2 years of policy. So the amount of 3500 /- which were my hospital expences have gone for a spin. ICICI expects that we should wait for 2 years to put in any claim !!!
After 2 Years in 2007 the ICICI chap had the audacity to ask me to renew the policy at an enhanced premium of 29700 /- I can get it through Credit Card or pay in one go !!When asked for receipts of the premium for claiming rebate for Income Tax, the ICICI Executive says it can not be retrieved from the System.
So the net loss 21360( for having paid through Card) + 3500 + 30% of the amount towards rebate.
Now we know how Kamats and Kochars are getting hefty pay packets !!!
ICICI Lombard takes you for a very very sweeet ride !!!