https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266166
Check if you can raise this with IRDAI after their reply. Otherwise cpgrams portal
TATA AIA LIFE INSURANCE : WORST
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Hi guys, sharing my experience with TATA AIA term insurance. I recently purchased this policy of 2CR cover and paying 4000rs per month as premium from the last 4 months. One fine day on 3rd April 2023 I realised to pay this premium using CC to earn rewards and not from bank account. So I updated the auto debit SI on the same day and got email from TATA AIA that request has been received and will be processed. On 30th April, I got a message that auto debit failed due to insufficient balance in bank account (as I don’t maintain that account any longer). Bank charged me hefty 590/- for ESURCHARGE. I was shocked that why did TATA AIA even attempted to debit it when the SI was from CC? I called them and they said the instruction to update SI isn’t reflecting in their system. Is it’s my fault? No right … after multiple follow ups they are saying that auto debit happened on 30th April while SI was set for 1st May - hence not our error. What BS? I called them again & now they are saying earlier what you raised was a “query” now we are raising “complaint” .. wait for 5 days.
So now I have been waiting for almost a week now, have been asked to wait for 5 more days and still don’t know if any refund will happen!
Imagine,,,,, my wife if she go to claim the 2 CR if I die, how many rounds of visit she will have to do to claim it????
They have no dedicated RM! Even when I requested to talk to RM or manager, they said you will get a call back in 3 days. 3 days!!
Frustrated & disappointed- I have raised a complaint with IRDA & shared proofs. They will come back in 15 days!! Yes, 15! 
Should I cancel my policy and invest that 4K in SIP. I have also taken a policy for my wife through policybazar and paying 1500 pm for 1 CR cover. Please please please share your experiences.. I am feeling so done with the Term insurance game.
Should I cancel my policy and invest that 4K in SIP. I have also taken a policy for my wife through policybazar and paying 1500 pm for 1 CR cover. Please please please share your experiences.. I am feeling so done with the Term insurance game.
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https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266227
Take term insurance from ICICI or HDFC only. My cousin works in Tata insurance company and he advised me to avoid Tata 😝
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266248
raman12 wrote:Thankyou for the information on CPGRAMS, wasn’t awareCheck if you can raise this with IRDAI after their reply. Otherwise cpgrams portal
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266250
romilq wrote:Yes, I believe it was a mistake. Need a professional insurance partner. Do you also recommend MAX life along with HDFC/ICICI?Take term insurance from ICICI or HDFC only. My cousin works in Tata insurance company and he advised me to avoid Tata 😝
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266268
max life also does the same. during covid time they took 6 months and more than 50 calls and more than 10 complaints to remove auto debit. and i lost 2000 rs for auto debit ecs failure and recovered 1000 rs back after complaining to axis bank twitter.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266303
chai2322 wrote:Woahmax life also does the same. during covid time they took 6 months and more than 50 calls and more than 10 complaints to remove auto debit. and i lost 2000 rs for auto debit ecs failure and recovered 1000 rs back after complaining to axis bank twitter.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266336
its your mistake every policy company will do the same. NACH auto debit is how banks earn you will have to disable NACH and then pay through CC pre paid atleast 5 - 7 days before your NACH date
Talk to your bank and tell them to remove this NACH entry as you will pay by CC
keep balance in your account they will try again
please change the title of the topic as it is a mistake from your end
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9266363
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chandrika710 wrote:Yes. Max or HDFC or ICICI only.
Yes, I believe it was a mistake. Need a professional insurance partner. Do you also recommend MAX life along with HDFC/ICICI?
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9267243
woodfield753 wrote:mistake from both sides;
its your mistake every policy company will do the same. NACH auto debit is how banks earn you will have to disable NACH and then pay through CC pre paid atleast 5 - 7 days before your NACH date
Talk to your bank and tell them to remove this NACH entry as you will pay by CC
keep balance in your account they will try again
please change the title of the topic as it is a mistake from your end
banks and NBFCs try multiple times within hours - RBI is sleeping, there should be limit on time gap and attempts as well
some other dimer also complained NBFC attempted 10-15 times in just 2 days time
OP did they send u any SMS or email about SI and to keep sufficient balance in account?
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9267939
This term insurance is scam. Had to surrender policy after 3 years premium paid. Only LIC will pay when needed else these TATA/HDFC etc just will create more hassles when any claim will be made in future.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9268903
Cool07 wrote:scam ?? can you explain this part ..This term insurance is scam. Had to surrender policy after 3 years premium paid. Only LIC will pay when needed else these TATA/HDFC etc just will create more hassles when any claim will be made in future.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9268908
Those who buy term insurance pls disable nach during the first time you buy the policy ... else you will lose 1000s of rupees in this ecs fail itself. ...... We are tied up with max life, there is an option to do that in max. Not sure of other companies.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9282333
UPDATE : After complaint with IRDAI and raising this with grievance team of TATA AIA, they agreed to refund. I have received the refund today.
Those who are saying it was my mistake, need to understand few points.
1) I did not receive any NACH SMS or Email to maintain sufficient balance
2) Tata AIA sent me a confirmation email that the SI request has been received and will be confirmed. So for any reason if they were not able to update and confirm at their back end system, is not customer’s fault.
Lesson : Raise complaint with IRDAI and grevience department. Flight for your rights if you are correct. Customer care will never listen or act until you complaint. I told clearly that I will close the policy if not refunded, which would have been a huge deal for them. That worked in favor.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9283418
chandrika710 wrote:In How many days we can cancel the policy and get the full refund!
UPDATE : After complaint with IRDAI and raising this with grievance team of TATA AIA, they agreed to refund. I have received the refund today. Those who are saying it was my mistake, need to understand few points. 1) I did not receive any NACH SMS or Email to maintain sufficient balance 2) Tata AIA sent me a confirmation email that the SI request has been received and will be confirmed. So for any reason if they were not able to update and confirm at their back end system, is not customer’s fault. Lesson : Raise complaint with IRDAI and grevience department. Flight for your rights if you are correct. Customer care will never listen or act until you complaint. I told clearly that I will close the policy if not refunded, which would have been a huge deal for them. That worked in favor.
https://www.desidime.com/discussions/tata-aia-life-insurance-worst?page=1#post_9293402
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Take term insurance from ICICI or HDFC only. My cousin works in Tata insurance company and he advised me to avoid Tata 😝
Check if you can raise this with IRDAI after their reply. Otherwise cpgrams portal