Hi All,
I have recently bought ICICI Term plan after checking claim settlement ratio, which is 2nd Highest and brand name.
I have a hereditary disease since birth and same information I have shared with their customer care before buying it also at the time of filling online application, but they told me that its not covered in the form so you have to mail us after buying the policy.
I have done that and provided all the past medical report after lots of follow-up with them because they don’t respond. On 01-03-2014 I got a response email that we hereby inform you that disclosure after post issuance of the policy. This policy has been declined due to past medical History & your premium amount will be refund to you after deducting their misc. Charge.
I’m totally surprised because my policy is declined due to non-informing them about my disease at the time of buying policy, did I?
I don’t know how they worked because from day one I have always informed them, but they never take it seriously.
Can you imagine if they deduct misc. charges around Rs. 200-500/- and they cancelled 100 policy in a month how much extra money they earned from customers?
Please don’t buy ICICI policy, Even it has high claim settlement ratio & read all customer reviews so you will know how they cheat with customer.