An insurance policy from Axis bank can lead you to death bed in hospital
I know , it would be difficult for me to justify why on an educational blog , consumer problem has been discussed. Today Axis bank sent me final mail stating that this is done now and Axis bank can not do any thing further into.
It was about end of November 2014 , when I made usual visit to Axis Bank Branch at Dilshad Garden, New Delhi where Assistant Manager asked me to buy a medical health policy being sold by Axis Bank.Generally , people buy insurance from individual agents but as its well known
that agents do not tell you details about your policy and thus blame is always put on agents for filling up wrong papers which further results in claim denial, so now a days probably banks have started doing this sales business and get high commission from insurance companies.
I filled form of Medical heath insurance and agreed to pay premium for insurance policy of Rs 2,00,000 , Premium of policy amount is Rs 3388 including tax , duties and cess as applicable.
I got my policy papers in first week of December 2014 and , it was just by chance that I opened my policy document and saw photo copy of form which I filled up during requesting for issue of insurance cover for my health and at TaTa Aig they call it MediPrime. I filled up my medical records all correct to best of my knowledge.
Questions were as follows in Medical Questionnaire which were tick marked as YES by ME.
1. Have you in past 5 years suffered from or are you currently suffering from any disease , illness, injury or accident other than common cold or viral fever.
2. Have you been admitted to a hospital or a nursing home or had any test or imaging like CT scan or MRI scan or X-Ray done in past 5 years other than routine health check up or pre -employment check up.
3. Have you taken any medication for more than two weeks in last 5 years.
4. Have you had any surgery in the last ten years or has surgery ever been recommended or are you awaiting any surgical operation.
When I opened my policy form questionnaire , I saw them omitted and tick marked as NO.
I contacted Operational head at Branch and , she wanted me to believe that “Any omission or change in policy documents is not possible” was assured that matter will be taken care of with 1 week and called me on 15th Dec to branch and on that day she was on leave which , I could only find after wasting my time in going to branch.
I again visited Dilshad garden Axis bank branch on 16th of Dec 2014 , where operational head had no words accept few more days. Any how I went to Branch manager with my complaints and my concern regarding policy.
I was informed by few of my known people that , If I had ticked YES and do not give documents then my policy will be automatically cancelled as your earlier diseases are not covered and , and premium value gets increased to avoid this hassle this is done. So that customer has also to pay less premium and then when I asked what in case some one needs insurance.
Answer was plane and simple: We do not cover earlier disease and , if you have not submitted documents then how do we know which disease you had and so , claim is denied.
Delay of handling my problem by Axis bank and throwing every thing and framing everything on TaTa Aig and Vice versa was only being done in this case and then , I asked to show orignal copy of my policy documents from Branch manager of Dilshad garden New Delhi.
After three reminders and 5 visits to bank , TaTa Aig Official named Prashant visited my office to show me policy document in which whitener was used to omit my ticks and Now TaTa Aig was only interested in getting my medical history documents.
I complained to Axis bank and TaTa Aig and asked as a consumer why it was done with my policy papers and what consequences will I have to face and with how many people you do this but after a month of follow up , I have been assured by Axis bank that , it was not done by them and Axis bank Re assured me that it will not happen with any other client and when I asked why it was done with me. I was not replied.
What would happened in worst case , I asked some one who had great knowledge of General insurance: His reply was “you could be lying in hospital bed and some one from accounts department of hospital would have come to you to inform you that we can not trat you till you deposit money because your insurance company has denied any claim. What would have happened to me in this era of credit card life.
ALthough now I have decided to take my complain to IRDA , although initial behavior of IRDA is also under suspicion becasue every one is trying to convince me that “your matter has been taken care of” but No one has tried to answer why it was done? , with how many people it gets done? when I complained to IRDA , through their website. Bugs at different steps of complaints system shows seriousness in handling complains. I sent mail at its mail ID on 11th January but did not get any acknowledgement and then finally I called to help line number 155255 to ask about status of my complaint and then was suggested to complaint again. During my complaint , I specifically mentioned my concern that my concern was for general public. I wanted to know “how frequently this is done by insurance companies and is it legal to do this type of business and is a normal consumer insured or safe under this form of insurance business” but when I got acknowledgement of my complain in mail , In found the focus to be on my insurance policy.
Although I sent my mail again to IRDA stating complaint number and I am planning to go against Axis bank to banking Ombudsman but , I am still looking for liability of Axis bank under this case.
This is one of the perfect example , how corporate are playing with a normal consumer.