Hello All,
I was thinking to take HDFC click2protect plan. I calculated the premium for me (37 years) for 50 lakhs on the site and it was 9494 per year. Coincidently one HDFC person approached me at the same time. The calculations he showed me with his agent code was ~350 more. He put his code and premium he showed for the same conditions was ~9850. I was surprised to see this. I can understand that if I am taking any insurance from any broker he can take commission. But in this case even though I am taking insurance from company employee the premium was at higher than what was shown on site. ( I have considered service charges for both calculations. ) when I asked HDFC person why the premium is high in case if I take insurance from you. He told me that because of service ! He told me that if I take online insurance then I need to do follow-up for everything like sending form/documents, medical tests, policy hardcopy. He also told me that if a person is taking insurance through them then it will take min 1 month to finish entire process. In fact he showed me few cases where the insurance was not approved even after 1 month.
I would like to know the views on this from this forum and the experience of the members who have purchased online term insurance.
Regards,
– Yogesh