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POSTED BY ON January 19, 2013 1:36 pm COMMENTS (5)
A number of insurers provide a ‘built-in’ copy of application form in the final policy document . I belive that the policy document is a ‘Contrcat-document’ between the proposer and the insurer and the “in-built” photocopy of the form is an excellent way of acknowledging the information revealed by the proposer. I understand some insurers like Aegon Religare, even attach copies of e-mail correspondence to the policy document. Rcently Manish did a relevant article also on this-
However, I was shocked to see that the Policy document of my HDFC Click2protect contained only half and truncated material information provided by me in the on-line application-form.
For example-. I had mentioned that my mother suffers from “Diabetes and Hypertension” but the policy-print showed only a few characters i.e.” Diabetes a”. Similarly, I had revealed that I had suffered from “(i) Gastro Eusophageal Reflux Disease (ii) Oesophagitis, (iii) Hiatus hernia (iv) Laryngitis” in past. However, only the first five characters ” Gastr” got printed in policy.
My doubt is, if tomorrow I die of hypertension or Oesophagitis related disease, HDFC SL may repudiate my claim saying I didn’t reveal this vital information!! How will my family prove that I had honestly revealed all the material information?
HDFC SL says that due to space limitations only 4 or 5 characters get printed on the form. How funny!! And how disappointing!
This 50L term policy has been given to me without any medicals, soley on the basis of information provided by me.
I invite forum members opinion on how serious is this? Shall I return the policy in the ‘Free Look period’ or am I just being too cynical?
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Dear SK, yes it seems the medical declaration from your side saved the day for you.
Thanks
Ashal
Dear SK, even after dear FFC, suggestion if you are some what uncomfortable with the over all set up, please surrender the policy & opt for a cover around 1Cr. In this case, the medicasl ‘ll be mandatory & a lot of issues ‘ll be answered automatically based upon your medical report. Yes be ready to pay for prem. loading if any thing adverse is notify in your medical report.
Thanks
Ashal
Thanks Ashal!Your quick response helps since I have to decide fast within the freelook period.
Even I was surprised that they didn’t call me for medicals for 50L policy (especially since I am 40+ and had mentioned a few past ailments in my application). I had submitted a few recent pathological reports and ECG ect alongwith a questionnaire I was asked to fill and submit. Could they have waived-off medicals since they alreda had me reports? What do you think?
Please write to them and ask them to confirm that
“(i) Gastro Eusophageal Reflux Disease (ii) Oesophagitis, (iii) Hiatus hernia (iv) Laryngitis”
present in the application form has been take into account.
with their prior email response attached. Threaten them saying that if they do not respond fast you will return the policy.
If they acknowledge yes then you don’t have to worry. if they have already said yes in their email go to their office and authenticate a print out of the email with a seal and attach it to the policy document and inform your nominee.
You (meaning your nominee!) will not have a problem.
ps.
(i) Gastro Eusophageal Reflux Disease (ii) Oesophagitis, (iii) Hiatus hernia (iv) Laryngitis
these conditions sound complex but are are not life-threatening and are linked to each other except (iv)). So I dont think these would have made a big difference to underwriting your policy
Thanks FFC for your suggestions!