my LIC tech TERM plan postponed by lic

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Today I have received mail after all process-

With reference to your proposal for Tech-Term insurance, we have to inform you that, after consideration of all the circumstances of the case, we are unable to cover the proposed risk under our Tech-Term plan at present. 
 
 
The refund of deposit paid by you will follow shortly, subject to the deduction of cost of medical examination/ special reports fees, if any.
 
DECISION] : 
For Proposal : WITHOUT COMMITMENT POSTPONE FOR – 6 MONTHS ​

they are gonna deduct money . and Lab charges of Like SRL pathology are higher, it’s going to be costly of lab charges as they going to deduct the money from my First premium payment.

what could be solution?

21 Comments  |  
6 Dimers
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Same Issue with me as well?
What is this new procedure now? Why is our amount held for 6 months unnecessarily?

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iamshashikant wrote:

Filed complaint in Irdai. Again escalated due to non cooperation

Keep posting update here. So that all can know, what’s going on & howz complaint are dealt by IRDA.

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drjpatwa wrote:

Keep posting update here. So that all can know, what’s going on & howz complaint are dealt by IRDA.

I had given everything to Lic. I gave them my salary slip them why they conducted my medical test if they known my salary less than my sum assured taken. Why being ridiculs they are?  Because of them I was at loss .

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Update – First raised complaint with Irdai , then they not solved anything . Then again escalated issue to Irdai and then no response from LIC . Do contacted IRDAI they said that this is last attempt from us . So you can go for consumer court now for this . Is anything option left for me ?? How I can file complaint without appearing in Court ? Any help?

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muthuramalingam64976 wrote:

Same Issue with me as well?
What is this new procedure now? Why is our amount held for 6 months unnecessarily?

Any update with your case ? Or Irdai also not able to do ?

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drjpatwa wrote:

Keep posting update here. So that all can know, what’s going on & howz complaint are dealt by IRDA.

Hi. My case is solved

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iamshashikant wrote:

Hi. My case is solved

That’s great to hear. How? What resolution came?

Please write in detail. So that all can get benefited.

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First mail Lic to give reason to not giving policy to me , then they said due to low income we are not giving. Next I went to file Irdai . Irdai complaint filed . Same answer from LIC. Next again escalated to Irdai same . No response at all from LIC . So Irdai cc said me u have 1 last option to complaint LIC it is – File consumer court complaint. Then I went to Pgportal.gov.in . Filed case for financial services ( insurance) narrated that – I have given my salary details and then Lic didn’t look my income detailed and went for medical checkup up how ? I mentioned in complaint without giving details about how much income required for how much sum assured they took my medical test also they not mentioned about income details in sales or policy brochure and policy proposal how u determined my salary is less for selected sum assured ? So, I had narrated properly my issue . And this time they have no option . So in mail they agreed to pay refund of medical fees.

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iamshashikant wrote:

First mail Lic to give reason to not giving policy to me , then they said due to low income we are not giving. Next I went to file Irdai . Irdai complaint filed . Same answer from LIC. Next again escalated to Irdai same . No response at all from LIC . So Irdai cc said me u have 1 last option to complaint LIC it is – File consumer court complaint. Then I went to Pgportal.gov.in . Filed case for financial services ( insurance) narrated that – I have given my salary details and then Lic didn’t look my income detailed and went for medical checkup up how ? I mentioned in complaint without giving details about how much income required for how much sum assured they took my medical test also they not mentioned about income details in sales or policy brochure and policy proposal how u determined my salary is less for selected sum assured ? So, I had narrated properly my issue . And this time they have no option . So in mail they agreed to pay refund of medical fees.

Thankfully, you have confirmation from lic that rejection was due to low income. You will have to now mention this rejection in all future life insurance applications

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bargainhunter wrote:

Thankfully, you have confirmation from lic that rejection was due to low income. You will have to now mention this rejection in all future life insurance applications

Why I have to mentioned this ?

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iamshashikant wrote:

Why I have to mentioned this ?

Almost majority insurance company ethier health or Life Insurance, ask that if ur application of life/ health insurance has been rejected previously…

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drjpatwa wrote:

Almost majority insurance company ethier health or Life Insurance, ask that if ur application of life/ health insurance has been rejected previously…

Ohhh

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drjpatwa wrote:

Almost majority insurance company ethier health or Life Insurance, ask that if ur application of life/ health insurance has been rejected previously…

Does it has any impact

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iamshashikant wrote:

Does it has any impact

Due to income reason will not have impact. If no reason was mentioned, they would assume it to be due to health in which case it would have impact

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