I have worst experience with ICICI Lombard Health Insurance. 6-7 years back, I bought Gold policy for my Mother [she agreed 58] and there was medical test conducted. Everything was fine and I received the policy for 2 Lacs. We paid continuous premiums for 3 years without any claim. Total Rs 34, 000/- was paid but for that each time I have to take initiative. They were not reminding me at all. At the same time for my and wife’s policy they were calling and reminding me.
Got the catch? For younger aged people they want premiums and for older aged they wish the policies should get lapsed. Read further .
After 3 years they asked my mother to get medical check up again. My mother was out of town for few months and we could not do it. Thus policy was lapsed finally. They have eaten my money.
Similarly they are just eating the money from the people who normally do not fell ill and They do not want to take risk [which they should take considering the premium collections and related financial returns they are getting by investing the collected premiums].
Instead I should have saved those premiums in SIP and use the same money for treatment without begging for my money by claim process. My mother is still in healthy condition.