I am writing a formal complaint against Policy bazaar regarding the motor insurance policy for my own car bearing registration no TN57BF4377. Based on the plan selection under the TATA AIG General insurance they shown the Premium Rs. 6, 379/- hence I processed the premium through the Policy bazaar platform on 5th Aug 2025
After processing the premium they called me do the video inspection so next day I done the video inspection through the policy bazaar platform and submitted. After that they remind me to complete the KYC which is pending for the policy issuance, so I forward the KYC supporting documents Pan card and Aadhar Card to them immediately.
Later, 07th Aug 2025, I received the notification from the policy bazaar to process the additional premium of Rs. 3, 545/- against the car insurance policy.
I would like to Quote the PPHI guidelines drafted by the IRDAI below,
The Insurance Regulatory and Development Authority of India (IRDAI) issued a Master Circular on the Protection of Policyholders’ Interests on September 5, 2024. A key provision in this circular is that insurers can only request the payment of the premium or premium deposit after they have accepted the proposal. The circular mandates that insurers must process proposals swiftly and efficiently, with a strict deadline of 7 days from the submission of the proposal.
I don’t know why they are asking additional premium instead of what they are agreed initially it seems to be unfair practise.
There was no response to my service request raised in the policy bazaar platform caused delay in policy issuance.
Kindly intervene and solve this issue on priority Was this information helpful? |
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