These days you can get a retirement policy even though you are still quite young. I am 26 and thought I should plan for my retirement. I’ve no problem in giving away INR 10,000 a month if I can somehow secure my family’s future when I get old. I had heard of PolicyBazaar.com and judging by their TV advert, I reckoned it would be an excellent website for comparing policies.
PolicyBazaar.com requires you to give them your number before proceeding
If you want to compare the policies available you must have a working phone number where they can send you a registration code via which you can register on their website. Little did I know that they would start calling me at least 3 times a day asking me to give them the permission to give my number to myriad companies who sell insurances.
As mentioned before I wanted to browse the retirement plans, so I clicked on button shown in above screenshot at PolicyBazaar.com.
Clearly if I want to compare some policies I should not be required to tell my number. I had a feeling inside that they would use my number to call me back.
I bit the bullet and entered my number to proceed. I was then forwarded to some other affiliate site to compare. There too only those plans were listed on top that were giving maximum benefit to Policybazaar and not the end user. The good ones could be revealed if you clicked on a button at bottom of page.
I had heard pretty poor reviews of the ones mentioned on top (ICICI, HDFC insurances) so I ignored them and closed the page.
Next day, I got a call at 10 am where someone from policybazaar called me and directly told me that they will be forwarding my number to ICICI, HDFC and Bharti Axa. I said no, don’t give my number as I am still researching. He was adamant and said, he will only give my number to Bharti Axa and no one else.
This clearly shows that Bharti Axa had given some extra money for getting consumers’ phone numbers. I told him not to do so and he hung up.
Again in evening I got a call from policy bazaar where he told me that they knew I was browsing for insurance plans and if he could give my number to Bharti Axa, ICICI and HDFC. I was bloody angry and hung up.
Now I am getting 3 calls in a day from these guys. Can I recommend them? I would rather visit insurance companies websites individually and compare them myself.