Hi,
Dena bank 5 Years back came out with Scheme in tie up with Oriantal Insurance for providing mediclaim at highly attractive premium i.e. Rs. 7000 for 5 Lac cover.
We hold various accounts with dena bank and as per their tie up we got ourselves covered (5 Policies) after paying 2 years premium, when the 3 rd year renewal came we were informed that the tie up with Oriental is no more there and the same policy will be transfered to United india Insurance for same Premium..
Now we have paid 2 years premium with United India and the 3rd year Premium we are informed that Dena Bank has increased the Premium 2 -3 fold for policies…
Now trusting Dena bank and paying 5 years of Premium which comes to almost 2 Lacs we are stranded and forced to pay high Premium for my parents and now we are in a fix If we dont pay and we cant even change the company since parents are 65 +
we were assured that the scheme shall continue since it is bank tie up and therefore we got our previous pvt policy cancelled which had a very High Premiumm for my Parents (20000 for 5 Lac)
Please advice if we can approach IRDA for the same…