I have purchased a Term Plan from Aegon Religare on 5th December, 2012 through policybazzar.com. The details of Plan are as under:-
Product Name : AEGON Religare iTerm Plan – UIN 138N016V02
Policy No. : 512113658899
Date of Commencement : 05/12/2012
Date of Maturity : 04/12/2055
Name of Policy Holder : Pramod Gabhane
Sum Assured with Rider : 18,900,000.00
Premium Amount : Rs. 20,469/- Yearly
(All correspondence with the Insurance Company has been done via email and all emails are saved in my inbox)
Firstly, the company had delayed in delivering the Policy Document to my mailing address. I have received the policy document on 2nd January 2013. On reviewing the same, it came to my knowledge that the Lifestyle Habit mentioned in my Policy Document was tempered / not acceptable to me. Therefore, I asked customer care Aegon Religare via email on 3rd January 2013 that a minor change in Lifestyle Habit is required. In this matter, I have confirmed the Premium Charges including Alcohol Consumption from policybazar.com and I have paid the premium charges on higher side that including my smoking and drinking habit.
On 4th January 2013, I have received a mail from Aegon Religare that my request is considered and a Confirmation Letter regarding the same was sent on my mailing address. I have waited for confirmation Letter for about 12 days but haven’t received any letter from the Insurance Company. On 18th January 2013, I have made complaint with the Insurance Company that I haven’t receive any Confirmation Letter from you and ask them to provide status of delivery. The Insurance Company replied on 24th January 2013 and advises me to have patience.
On 25th January 2013, the Insurance Company once again stated that the issue has been investigated and a Confirmation Letter regarding the same was dispatched to my mailing address, which forms part and parcel of my policy document.
On 5th February 2013, I have mailed to the Insurance Company that I haven’t received any Confirmation Letter till date and ask to give courier details. The Insurance Company replied on 11th February 2013 and intimated that there is no change in underwriting decision and the terms and condition of my policy remains unchanged and a Confirmation Letter regarding the same will be dispatched to you shortly. I have asked for providing courier details but no courier details were provided to me.
On 12th February 2013, I had made complaint with the Insurance Company that I am not satisfied with the services and not considering my request for change in my lifestyle habit. At the same time I asked for cancellation of my policy as the query raised with the Insurance Company was within the Free Look Period of 30 days from the date of delivery of policy document. And as the company has not replied on time and intend to pass time with an intention to make lapse of 30 days period time. Even in these days the Insurance Company hasn’t send any confirmation Letter to my mailing address. The Insurance Company never replied on the mails regarding clarification of lifestyle habit and status of delivery of Confirmation Letter. I have regularly followed up the matter for another few days.
To be Continued in Second Part