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I have taken a term insurance in Max through policy bazaar 3 months ago.i put SI but didn't debited
Hi Sophia, we can see that your payment towards your Max Life term insurance for Rs. 4,123 on Sep 24, 2021 was successful. The next payment has not become due yet.
Just for your information though, according to the new RBI guidelines, w.e.f Oct 1, 2021, for any recurring payments of more than Rs. 5,000, the customer will receive authentication request from their service providers in the form of an OTP. Only when the customer authenticates the transaction, will the payment go through.
Though this does not currently affect the SI set up by you (amount being less than Rs. 5,000), if you need to clarify any doubts you may still have around your premium deduction, we request you to write to our customer support team sharing your policy details at care@policybazaar.com. They shall reach out to you at the earliest to help.
