Wrongly entered Existing life Insurance Policy details while buying new Term Plan

POSTED BY pankajj ON December 31, 2013 3:30 pm COMMENTS (5)

Recently i bought a pure online term plan from ICICI. In the proposal form i wrongly mentioned about a LIC policy which was already surrendered by me few years back.

Before i took a notice of that, the policy was issued by ICICI. Now since this ICICI policy is in freelook period now, i wish to change this information i mentioned in the proposal form.

Please let me know that if such changes are considered in freelook period?

I have already visited the ICICI Prudential office and written application for this change is already given.

If this change is not possible after the policy is bought, do i need to \\”Cancel\\” this policy in freelook period.

 

Please suggest.

Thanks.

5 replies on this article “Wrongly entered Existing life Insurance Policy details while buying new Term Plan”

  1. ashalanshu says:

    Dear Pankaj, No not at all. It’s not a misleading thing. Actually had you concealed a running policy, that was misleading.

    Thanks

    Ashal

    1. pankajj says:

      Thanks, your wisdom really saved me here.

  2. pankajj says:

    Thanks for replying, Ashal

    The Old policy was surrendered long time back, before actually buying this new insurance.

    And i wrongly mentioned this Old policy in proposal form, even though it was not inforce.

    Will it impact, if they say that i have mislead them?

    Thanks,
    Pankaj

  3. ashalanshu says:

    Dear Pankaj, as the old policy is already surrendered by you, please do not worry. This ‘ll not iumpact in anyway on your relationship from here on wards with ICICI Pru Life.

    Thanks

    Ashal

    1. pankajj says:

      Thanks for replying, Ashal
      The Old policy was surrendered long time back, before actually buying this new insurance.

      And i wrongly mentioned this Old policy in proposal form, even though it was not inforce.

      Will it impact, if they say that i have mislead them?
      Thanks,
      Pankaj

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