Recently I had applied for endowment policy and was asked to appear for medical test and citing ridiculous medical reasons my annual premium (counter offer) was increased by over 25%. I had got these medical reports checked and was told by three doctors of repute and working in multi-specialty hospitals that everything is normal with reports including CBP, TMT etc. and when I had challenged them, citing under writers requirement I was asked to go for additional tests which also turned out to be normal, however they insisted on additional premium and when I had asked for reasons so called under writer (Supposed to CMO) called me and said test requested were not done and assured me that if TMT and 2D echo were normal he would waive counter offer and based on the assurance given I had gone for third round of test which turned out to be normal again (I got reports verified by well known Cardiologists from two popular hospitals in Hyderabad) with no apparent reason I was told counter offer will stand with no changes. Anticipating that I may not agree policy was cancelled.
Looking at my experience and the mental agony they have created, I wouldn't suggest anyone even to approach/engage with Max New York life for any Insurance, This company is fraud and they show lower premium initially and suck your blood later through additional premium/counter offer. In an unfortunate event god knows how they treat (how much they pay) your near and dear for whose benefit/well-being you take these insurance covers and you won't be around to challenge.
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