I have applied for tata aia term life plan sampoorna raksha on 6-apr-2020, after news that term life premiums will be increasing and it is better to buy soon. I have applied it via policy bazaar.
Application number: c[protected]
After submitting all documents including financials, i got a call from them saying for 3cr sum assured, medicals are necessary which is not possible due to lockdown. They said they will issue 2cr policy with tele medicals and asked me to agree. So i gave my go ahead, and my telemedicals were successfully completed.
Then they called me and said they can only issue the policy for a reduced term than what was originally applied for, and i had to say yes for that as well. This is because by that time premiums have already increased for new applications.
Then they called me and said medicals are absolutely necessary, even with 2cr sum assured. I agreed to that as well, scheduled my medicals and got it done. The lab they assigned is substandard, they do not even know how to draw blood properly, and the place is very untidy and scary especially in covid situation. Even then i got that done thinking it will be over soon and i should go thru this so i can get coverage i wanted.
In few days, they called me again and asked for more financial documents which i promptly submitted. Then they kept on asking for ay[protected] tax returns. I have clearly mentioned to them, that this years tax forms have not been yet notified by government, and tax returns or calculations will take time. But i submitted tax paid receipts as proof for the same year. They keep raising queries for one financial document or other (Form 26as, tax computations, returns, self attested stuff etc) which i patiently submitted.
All the while, i had doubts that they are purposefully doing this to avoid issuing the policy, since premiums have increased for new applications. But for this they put me through so much trauma of gathering unnecessary documentation and put me at risk in a substandard lab for medicals, all the while, when they dont want to issue the policy at the agreed premium from beginning.
Finally, i get a call saying the policy application is being rejected, as they are not satisfied with financials. That is after submitting so many financial proofs, which i did not have to submit even when taking a home loan of 1.5cr.
With this kind of attitude, predatory practices, and substandard labs for medicals, not sure how policybazaar or any one can suggest such a insurance company.
If i had to go through so much trauma just to get a insurance policy from them, i cant imagine how many games they will play in case of a death claim and the trauma the family members will have to go thru.
Please take note of this, whom ever it may concern while dealing with tata aia insurance.
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