For the proposed policy I have paid the premium and submitted all required documents only thing I need to attend Medical evaluation. For that I have requested the company to provide what are the assumed standards of medical condition (it has written in the company’s website). Company has taken authorization and declaration from me, to alter the product offers without any clarity certainty at what standards, terms and Conditions Company will alter the product offers. Company only confirm the product offers, such term sum assured and premium by assumed standard medical and financial conditions based on information provided by me. I also assumed that my standards of medical and financial conditions will be on a par with the company assumed standards based on the information shouted by the company in proposal. In case I withdraw at this stage due to alteration in the product company will deduct medical test cost from my premium amount. Since there is cost involved that’s why I am asking for condition on altering the product offers after medical test.
Medical evaluation aimed to asses and Compare Company’s assumed standards. Company have not mentioned anywhere, what are those company’s assumed standards, I have been asking since the day one of my proposal submitted, but company have not provided. It shows that company is not providing proper information apart from that company is taking authorization and declaration to alter the product offers. It conveys that the message company finalizing the product after collecting premium by misleading customers. After that company is altering the product offers in favour to company.
I did choose this product only after product Offers Company had provided while uploading the proposal. Now Company have taken authorization and declaration to alter the product offers without any terms and conditions. Since there is no certain underwriting standards, terms and conditions on altering the product, I have informed company that I will attend the medical evaluation after providing the clear certain standard, terms and conditions on altering the product.
In latest reply company have informed me that premium amount which they have offered has based on the product, sum assured, customer information, actuarial findings and rate tables agreed on with the regulatory authority. Based on their statement exactly I am demanding the company should provide at what they have concluded/consider in my health/ medical standards while arrive premium. Those standards conditions useful for both parties to refer after medical evaluation take place. In case my medical evaluation result will not on a par with the standards where they have arrived quoted premium.
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