Annoying experience with Max Life Insurance

[suhasa010]

So, last year (April 2023) I finally got Max Life insurance which was suggested by Ditto.
Last year I had paid the annual amount at once. So did not face any issue.
I had asked them to change the payment Frequency to Quarterly at that time, but they told I can only change it next year (i.e April 2024).
So 10 days before due date (April 1st 2024), I paid the quarterly amount (while selecting the option to change the payment Frequency to Quarterly in the app).
After numerous calls and emails, till now the payment Frequency has not been updated to quarterly and still shows I have pending amount to be paid. I keep getting calls to pay the remaining amount and I keep telling them to change the payment Frequency.
Overall the experience has been horrible with the customer care. I'm sure I'll sue them if my policy lapses after May 1st because of their inability to process such a small request to change payment Frequency.

 

[007]

So, last year (April 2023) I finally got Max Life insurance which was suggested by Ditto.
Last year I had paid the annual amount at once. So did not face any issue.
I had asked them to change the payment Frequency to Quarterly at that time, but they told I can only change it next year (i.e April 2024).
So 10 days before due date (April 1st 2024), I paid the quarterly amount (while selecting the option to change the payment Frequency to Quarterly in the app).
After numerous calls and emails, till now the payment Frequency has not been updated to quarterly and still shows I have pending amount to be paid. I keep getting calls to pay the remaining amount and I keep telling them to change the payment Frequency.
Overall the experience has been horrible with the customer care. I'm sure I'll sue them if my policy lapses after May 1st because of their inability to process such a small request to change payment Frequency.

That's bad! Lodge a complaint via email or through their service portal if not done yet so you can escalate it further. Ultimately you can take it up with IRDAI Ombudsman, if their grievance department fails to handle such a petty issue!

 

[suhasa010]

That's bad! Lodge a complaint via email or through their service portal if not done yet so you can escalate it further. Ultimately you can take it up with IRDAI Ombudsman, if their grievance department fails to handle such a petty issue!

Thanks. Didn't know about the IRDAI Ombudsman 😮
And Max doesn't have a grievance redressal mechanism at all to escalate!

 

[007]

Thanks. Didn't know about the IRDAI Ombudsman 😮
And Max doesn't have a grievance redressal mechanism at all to escalate!

Mention not! And they do have a grievance redressal mechanism (Link) and afaik it's mandated to have one (both in case of insurance & banking as per IRDAI & RBI rules respectively)!

 

[Vasuki]

That's bad! Lodge a complaint via email or through their service portal if not done yet so you can escalate it further. Ultimately you can take it up with IRDAI Ombudsman, if their grievance department fails to handle such a petty issue!

Irdai ombudsman email
Or escalation matrix of hdfc life

 

[suhasa010]

Thanks @007 @Vasuki.
Escalating to second level worked. Even though it still took 7-8 days more, it was ultimately resolved just in time as only few days were remaining until the policy lapsed.

 

[lostwords]

@suhasa010 Just wanted to know why didn't you go with Optima Restore/Secure? Whenever I called Ditto they have told me to get HDFC, which is best as per them.

 

[007]

Thanks @007 @Vasuki.
Escalating to second level worked. Even though it still took 7-8 days more, it was ultimately resolved just in time as only few days were remaining until the policy lapse.

That's great! You are welcome! 🙂

 

[007]

@suhasa010 Just wanted to know why didn't you go with Optima Restore/Secure? Whenever I called Ditto they have told me to get HDFC, which is best as per them.

He's talking about Life Insurance, not Health!
And, Ditto is correct. HDFC Optima Secure policy is the best in market right now. Second best is Care Supreme as per my research.

 

[lostwords]

He's talking about Life Insurance, not Health!
And, Ditto is correct. HDFC Optima Secure policy is the best in market right now. Second best is Care Supreme as per my research.

my bad I overlooked the term insurance as health insurance. In that case, Max Smart Secure Plus is current top?

 

[007]

my bad I overlooked the term insurance as health insurance. In that case, Max Smart Secure Plus is current top?

Not so sure about term insurance plans. But when I last checked, HDFC and Max were the best of all! Check with Ditto once, in my opinion.

 

[vishalprasad]

@suhasa010 Did you not contact Ditto, to help as an intermediary? Right time to test their service as well.

 

[suhasa010]

@suhasa010 Did you not contact Ditto, to help as an intermediary? Right time to test their service as well.

Ah yes, I did contact them and they replied back a bit later but I couldn't respond and even this issue was about to get resolved so I let it go.

 

[S.S.]

What do you guys think about policies from lic new tech term plan