UNETHICAL BUSINESS PRACTICES OF HDFC LIFE
HDFC SL CLASSIC PENSION INSURANCE PLAN
POLICY NO 14605906 DT 16/09/2011
Briefly , I have the following grievances against the way products are sold by HDFC Standard Life Insurance Co Ltd or their appointed agents :
1 ) HDFC standard life’s or their Broker’s representative gave me false promises that I would get back my money after a period of five years contrary to ten years term as set forth in the policy document .
2 ) I was also tempted to buy the policy when the reprensatative of HDFC told me that if the annual premium is Rs one lakh only then an additional incentive in the form of a domestic tour for a couple would be provided within seven days of receipt of the policy . It turned out to be a fake assurance or more correctly cheating which as per Insure’s parlance “misselling “
3 ) I received the policy after a vigourous follow up well after what they call Free Look period during which deficiencies , if any , have to be brought to the Insurer’s notice and also can be cancelled . Unfortunately , I could not take up the matter for obvious reason.
I had taken up the matter on 12/12/2011 with HDFC office’s Grievances redressal cell at at B –Wing ,5th floor , eureka Towers , Mindspace Complex , Link Road , Malad ( west}
Mumbai 400064 . Following HDFC’s rules and finding an unsatisfactory reply to my queries I had also faxed a letter to the higher authority i.e The chief Grievances Redressal Officer , Mumbai at FAX no 022-2844-2429 on 04/01/2012 at 3 p.m .There has been no reply . I had , thereafter , followed up with Ms Manica Dutta , Insurance Ombudsman at Hindustan Building Annexe , 4th floor , 4 no Chittaranjan Avenue , Kolkata 700 072 by a registered letter on 20/03/2012 . But , no reply has as yet been received .
I therefore humbly request you being the Regulatory Authority to please look into the matter so that I can get my grievances redressed .
Thanking you ,
Yours faithfully ,