Somewhat satisfied. Review on General Tips on Health Insurance

Mediclaim – is a medical insurance policy offered by and that can be purchased from any of the four subsidiaries of the General Insurance Corporation(GIC) of India. Till recently, this policy was just about the only comprehensive medical insurance available in India.

However, now, with the entry of several new private general insurance companies, you will do well to evaluate your decision to buy medical insurance from a GIC subsidiary rather than from a private general insurance company. Whether it is Mediclaim or medical insurance from any of the new general insurance players, the policies and features themselves are likely to differ little. It is the service aspect, or rather the lack of it, that sets apart the GIC subsidiaries from private insurance companies where you not only expect but also get superior service. The superior service comes at a price, but for something as critical as medical insurance, one is better off purchasing the product from an insurance company that offers more features as well as better service. After all, when somebody has a medical emergency and needs help from the medical insurance provider, is it not better to have bought it from a company whose employees show empathy, concern and respect for the customers. At any of the four subsidiaries of GIC, maybe with exceptions, don’t expect courtesy, thoughtfulness or promptness in your dealings with the employees of the GIC subsidiary.

I had my Mediclaim policy transferred to one of the branches of National Insurance Company(NIC) at Bangalore from another city where I used to live earlier. After having the policy transferred to Bangalore and after having paid the premium for the next year, I had to make several phone calls and follow them up with personal visits to be able to finally receive a copy of my policy by courier. The next year, I was pleasantly surprised to receive the premium intimation for renewal of my policy from NIC. The premium amount indicated was much higher than what I had paid, but I took that to have happened on account of a rise in the rate of premier. A postage paid envelope was enclosed with the premium notice, which I used to mail the premium, by cheque to NIC. I then did not hear from NIC nor did I receive my renewed policy even two weeks after I had mailed off the premium.

I was thus forced to visit the NIC branch which had issued me the Mediclaim policy last year and which had sent me the renewal notice this year. I found the office to be the usual public sector undertaking(PSU) type of office with lots of employees but none ready to be helpful to the customer. After I met the employee handling Mediclaim policies, I told her that although I had sent my policy premium in time, I had not received my renewed Mediclaim policy or receipt for the payment, for more than two weeks. To which, she told me that because they were all very busy in March, customers would have to put up with delays! After she handed over the policy to me, she asked me to sign on a Debit Note because NIC had accidentally calculated a premium, which was nearly 50% more than the previous year and now wanted to refund me the difference, the excess amount I had paid! I signed up the debit note expecting the refund to be given to me straightaway. After waiting for 15 minutes, I heard the NIC employee handling the refund matters that because he was too busy and hand many others things on hand, there was no way that a refund could be given to me that day. I was then told that I would be sent the refund a week later by post. Knowing it would be futile arguing with such insensitive employees of an inefficient insurance company, NIC; I left the office without collecting my refund.