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This is with reference to my worst experience with ICICI Pru Life Insurance company and I want you to know how pathetic their post sales services and we as a customer have to suffer because of their fault.
Let me share the entire experience:
It’s been over 5 years I opted for their Health Saver plan (Yes, they have offered this health saver plan during that time) and I have been paying 15K INR for 5 Lacs INR of health insurance cover for Me and My Wife. At the time of policy enrollment I was informed that, you can easily add your son / daughter names in the future.
Last year in May 2017 when we blessed with a Baby boy, I wanted to add his name to my ICICI health insurance policy and hence I login to customer iciciprulife com online portal to learn more about the process. Sadly, there were no proper information available on ICICI Pru Life Insurance website but I came across this tab where my agent information was provided:
Actually I was not even aware how this agent was listed there but I gave him a call and asked for the information. He said, he will get back to me in few days! I waited for 2-3 days but did not receive call and then I again called the same guy.
He said:
I will only be able to add my son’s name in this policy during the next renewal cycle
Which was in April 2018 (Almost 11 months from the birth of my son). It was my mistake I trusted this person from ICICI Pru Life Insurance company and did not verify the information – Generally we trust the authorized person and we believe the information they provided is correct but in this case I was wrong.
Last week of March 2018 when there were around 15 days left in renewal, I visited ICICI Prudential Life Insurance office located near Pakvan, Ahmadabad.
I was shocked to hear their feedback:
“Sir, it is not possible to add your son’s name in this policy now!”
I was like WTF?
I asked why?
They said
As per policy terms, you need to add the name within 90 days from the date of birth!
I explained them my conversation with their repetitive and they were ready to accept the form and replied
We will forward this case to our head office but can not say anything now!
I had no other option left and submitted the form!
After 5-6 days, I received a reply that you need to submit PDR! I again contact the brand and they said, you already did it and it was the email by-mistake!
I wasted around 15 days in such conversation with no proper outcomes and the renewal date came. They asked me to renew policy which I did on same day to avoid any additional issues.
Finally after around 20 days the decision came:
This is to confirm that we have added kid-1 to your policy. However, as per the policy terms, the coverage for him will start from 06/04/2019
I replied why from next year?
I called the branch, I called their customer support, I wrote them email but no proper answer provided so far.
Here I was misinformed by their representative and hence I had to wait for almost 2 years from the birth of my son to get him covered under our existing policy.
Who will be responsible for any loss may occur in the future?
They can easily refuse this by saying about their policy terms which may written in small font somewhere in middle of those 30 pages booklet but what about the information provided by their representative?
Who is responsible for this?
AT THE END, THE LOYAL CUSTOMER WHO KEEPS PAYING PREMIUM REGULARLY HAS TO SUFFER!
There are ombudsman to solve such cases, file a complaint there and file a case in consumer court if not sorted there.
Though it is true that new born or newly married needs to be enroll in the policy withing 30 to 90 days, based on policy terms.
In your case the representative (agent) passed on wrong information for which am sure you wouldn’t have any proof to prove and as per law also it is on you to check the correct facts as these all are.mentioned in policy terms for sure. In case a detail TC (Policy preamble / document wasn’t given to you, you can hold insurer responsible for no knowledge of such terms)
Moreover, I tell you why they have given approval.of adding baby in 2018 only, as underwriter see it intentional (as per underwriters nature and his job, and to avoid any damage to him in future.from.the management) and assuming you are adding the kis due to some upcoming claim, they put the condition of waiting period of 1 year which is actually irrelevant as it’s a very long time. It could have been 3 months as no body would wait for 3 months for a baby claim. With that 3month of waiting period you also would have been comfortable though even it shouldn’t be there but considering whatever happens due to mis informed agent, it could have been mutual agreement at the both side.
But to save his job, underwritter had to put this condition. They are right at their place and you are right at yours and there is no one who can make that agent wrong. Irony, customer in India is seen as dishonest in insurance always no matter how insurers manipulate terms which in general not understandable by a common man.
I am.from.i stance industry with MBA in insurance and has completed fellowship too, still has to read few terms 2..3 times and sometimes take an explanatory confirmation of understanding of term in the same line of the insurer.
And you will be surprised, I have designed various policy wording in health insurance, knows all the aspect of product filing, approval, customization even then these new kids tells me what happens what not as they are themselves illinformed and has been trained to lie.
I am completely agree with your views and really appreciate the detailed explanation about the process. I have gone through all the points you mentioned earlier and I know I have no proof about my conversation with their agent but as I said, their customer support team is dumb! They are not even aware about the process or rule!
All the time they asked me to contact their email support!
Here my frustration is; I am the only suffering because of their representative! Why should customer have to suffer all the time.
I am in talk with few lawyer to file a consumer case as I know if we as an educated person facing such issues, what about others? I am sure there might be many of such cases where people ignore such incidents
Try first to solve with their escalation ( grievance redressal) team, if in one shot it is not solved, file a legal complaint and now onwards record each statement on call or mail whatever way. Also recommend that agent for action for providing wrong information.
Thank you 🙂 I learned a new lesson from this incident.