I was planning to have term insurance for couple of months, and while going through different reviews and IRDA claims ratio I found HDFC Ergo, ICICI Pru and LIC have good claim ratio of above 92% which I think is pretty good.
LIC premiums are on bit higher side(as it follows old mortality rate and agent commissions…) so thought of looking into HDFC and ICICI pru iprotect.
My primary Bank is ICICI(bank account, trading, credit card, demat), I have been a loyal customer to the ICICI for the past 6.5 years. I did not face any issues with my ICICI; I thought I will have no issues with iprotect also.
I have seen lot of bad reviews for ICICI Pru iprotect, but still because of my previous experience with ICICI, I thought the process will be smooth.(my bad)
But my experience with ICICI Pru iprotect, is VERY POOR.
After reading all the info I have scanned my address proof, id proof, pan card proof, IT returns proof on Sep 21-2011
I had applied for the policy on 22 - Sep - 2011
Uploaded all the documents within 5 mins after applying for the policy.
Insured amount 50 lacs for 30 years term.
Premium 8.2k per annum
Now the magic starts
I never used to take the print image of the transaction earlier because generally I get the confirmed message on my email(eg irctc, rechargeitnow.com, etc…)
But for this because of my colleague’s advise I thought taking the screen shot of the applied Policy.
My good I did it. Because I never received welcome mail or acknowledgement mail or anything of that sort.
No welcome mail
No acknowledgment mail even after 22 days.
Called CC 3 times on sep 29 regarding the status, one cc person sent the medical test voucher with subject "da" and one pdf nothing else in the body of the email.
I was supposed to get welcome mail, ack mail, mail requesting medical check ups. But I did not get any of these to my email I did not get these in mail also(to home address).
On Sep 30 medicals were done at home.
No. Type of Issue Document Requested Date Completion Date Doctors Name **Status
1 Discrepancy D-EXTRA RATING FOLLOW UP 07/10/2011 Not available - PENDING
2 Medical M-ELECTRO CARDIOGRAM 22/09/2011 30/09/2011 UNITED HEALTHCARE UNITED HEALTHCARE DONE
3 Medical M-HIV 1&2 BY ELISA METHOD 22/09/2011 30/09/2011 UNITED HEALTHCARE UNITED HEALTHCARE DONE
4 Medical M-MEDICAL EXAMINATION REPORT 22/09/2011 30/09/2011 UNITED HEALTHCARE UNITED HEALTHCARE DONE
5 Medical M-ROUTINE URINE ANALYSIS 22/09/2011 30/09/2011 UNITED HEALTHCARE UNITED HEALTHCARE DONE
6 Medical M-COMBINATION OF 12 TESTS 22/09/2011 30/09/2011 UNITED HEALTHCARE UNITED HEALTHCARE DONE
After repeated calls I came to know about I need to pay extra amount.
But they wont tell you how much is the extra amount, and why.
They will say mail has been sent.
Its 4 days after the extra amount charge has been asked, I still did not get any email, so does it take 4 days to send an email?
Going by bus takes hardly one day.
Its 22 days after applying still no update not a single mail from the icici pru regarding my application.(medical request mail was sent by the cc person directly, after a long battle)
Money has been charged on the same day. I read lot of horror stories if you go for cancellation.
Note: I started reading spam mails also just to check if its from icici pru
ICICI Pru toll free number does not work from airtel, so I have to call local number which is chargeble. I must have spent 150 just on cc calls.
this is my first review, please execuse me for any mistakes.
update after one month:
Place email to grievance cell, IRDA complaint, now I have received my Policy.
seems ICICI Pru works only if you file to grievance cell or IRDA compalint.