Mar 06, 2013 10:26 PM
16328 Views
I am not a great fan of public sector companies but dealing with LIC and some private life insurers, I can say that LIC should be the first choice for most people. Showing surprising acumen, LIC has got the best website that makes it easy to pay premiums and interact with them. All my policies are listed on the site and the transactions are easy and the receipt is generated immediately.
Private life insurance companies have a lot to learn from LIC. I bought a policy from ING Vysya Life Insurance company and though the premium went by ECS, they would start harassing me every month when the ECS was due. For one week afterward, I would keep getting their calls that the premium was overdue and the call centre employees scolded me for not paying the premium even when the ECS had been en cashed. Complaints to the company did not help; so I cancelled the policy.
I was talked into buying a policy from Aviva, another incompetent company. The premium is due every six months. So when I log into their site my password has expired. After several attempts I am able to get the password working again but when I try to pay premium, it asks for another one - a transaction password. It is one of the most difficult site to figure out. Wonder why they do not learn from LIC and make it easier to collect premium!
Then I have another policy of Reliance. Every six months, when the premium is due, I start getting calls from their call centre to pay the premium. Some 30-40 calls later, I ask them why they are so desperate. Yet they do not learn, they keep calling me to pay premium even after it is paid.
The best company happens to be LIC. It has its share of in-competencies. For instance for one of my policies I get money back on 31st March. This is invariably delayed as clerks at LIC keep telling me they are busy in "closing." They do not speak properly and the LIC clerks are one of the most spoiled in the industry. But when it comes to the LIC website and premium paying ease, LIC is the best.
