I would like to caution my fellow citizens not to buy ICICI Lombard Health Insurance Policy. If you want to know my story, read excerpts from the complaint letter I wrote to IRDA below:
[Respected Sir,
I have two separate health insurance policies for my father and mother with ICICI Lombard and I have been paying my premiums on time each year for the last 4 years(2010 - 2013). However, this year I received a letter from ICICI Lombard stating that they have withdrawn my existing policy and in its place they have another policy, which I must opt for without any choice. Shockingly, they have increased this year’s(2014) combined insurance premium(for my mom and dad) by almost 3 times than that which I paid last year!
I have provided policy details below.
2013
Mother
4034i/FFH/73085876/01/000
Rs 8176
Father
4034i/FFH/73087796/01/000
Rs. 8176
2014
Mother
4034i/FFH/73085876/01/000
Rs. 20031
Father
4034i/FFH/73087796/01/000
Rs. 26609 As furnished above, the combined premium amount for 2013 was Rs. 16352 and the combined premium amount for 2014 is Rs. 46640. This is almost a 3-fold increase and I am not able to pay this amount.
When I contacted the ICICI Lombard customer service I received a rude response from them and they informed me that I can take this option or leave. When I asked them whether I can get a refund of the premium amounts that I paid for the last 4 years - because I wish to withdraw - as the premium amount is too high for me. I was informed that if I did so, all the premium amounts that I paid will be forfeited. They even informed me that they were rolling out these changes as per IRDA changes in guidelines for health insurance!
I even received a call from a representative by name Amit from ICICI Lombard on August 1, 2014 from telephone number+91 022 30457400- as per our conversation, he informed me that he would like to record the conversation/call, I consented, and then I narrated to him my plight. He said that he will talk to his supervisors about a refund and revert. Till date I have not received any phone call from him.
I have also tried to call and reason out possible options for me with the ICICI Lombard Customer Service team. But, they have just one option for me, take it or leave!
My policy expires on August 8, 2014. Yours Sincerely,
Samuel Rajesh Prem]