Mar 12, 2017 12:50 AM
7594 Views
I went to policy bazaar to purchase online term insurance policy and my experience suggested that they compromise on our private details.
We should remember that policybazaar works like a broker which connects the policy buyer with the policy issuer. The job should end there for policy bazaar. But this is not so in case of policy bazaar.
They will first take the money from you before asking you to fill up your health details/life style details etc. Once you have paid them the money, you are tied upto them to provide data in their website which otherwise one should enter only in the policy isssuer website.
There are a couple of declarations which says that you authorize the policy issue to share details of policy with Policy bazaar. This is in my view a criminal activity. This should not be allowed. I am quite surprised how so long no one raised this point and how IRDA is silent on thins. Hopefully IRDA will take a note of this.
Therefore what one person can check the best policies in policy bazaar but go to individual insurer's website and buy those products directly there.This will avoid sharing personal details with policy bazaar.
