[Resolved]  Tata AIG Life Insurance — No receipt of payment received or policy renewal for over a month

I have renewed my lapsed TATA AIG Life Insurance policy on February 12. Today is the 23rd of March and I have no receipt yet of my payment in excess Rs. 14,000 which has been cleared from my account already. On contacting them several times they told me that I have to submit a clarified health certificate. I submitted the amendment to the Thane branch which they accepted at the branch as correct. I have yet not received any intimation from the company, so despite having sent accross all the details as required, the amendment form and not the least the money they are still checking with concerned departments about where my file is stuck. Is this the state of private insurance companies in India.

Well they are regulated by the IRDA, so I wrote to them. The IRDA took a whole of 2 weeks to say they can't do anything, unless we get more details. The mere pace at which they responded sickens me to think if ever they take any corrective action, when would it happens two years later?

This is the state of our insurance industry, so don't go by big names TATA and AIG, they are worse than the government run LIC. The funny thing is I also renewed my lapsed LIC policy and they closed it with receipt et al in just under 3 days and I didn't even have to go myself - my agent did it.

So please consider this when ur getting a life insurance policy in the future.