Bima Lokpal — life insurance policies

 
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Address of the company for communication HDFC Standard Life Insurance Company Ltd, 11th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Road, Mahalakshmi Mumbai - 400011, Jaipur, Jaipur District, Rajasthan, India
 Phoenix Services on May 17, 2019
1) this is to inform you that jaipur branch hdfc agent of hdfc standard life insurance company and its authorised agent fraudulently sold 4 life insurance policies to my retired father in law, shri ashok narayan bhise, (Retired from jaipur dairy, as casual worker, on 30/06/2016 with no other income source) with heavy annual premium totalling to rs 3, 24, 748/- for next 10 yrs. Or 15 yrs.

2) the agent gave a misrepresentation that these are personal pension policies, with only one time premium payment and like fixed deposit, policy-holder will get back his money along with interest, after three years.

3) on the basis this misrepresentation of one time premium policies, the agent got the policy forms, which were in english, (My father in law is 8th std pass and doesn’t know english well) signed by him and acquired blank cheques from him and thus fraudulently sold 4 hdfc life policies of hdfc standard life insurance company ltd, to him.

4) when after three years, my father in law went to hdfc standard life insurance company’s jaipur office, the branch people told him that these are annual premium policies with term of 10 yrs. Or 15 yrs. And are lapsed due to non-payment of further annual premiums. He was shocked as the agent has told him that all the policies he purchased in 2016, were one time premium policies.

5) the basic question is on what basis, the hdfc standard life insurance company along with its authorised agent sold these polices of heavy annual premium totalling to rs 324748/- payable for next 10 yrs. Or 15 yrs., to my retired father in law, who doesn’t have any other source of income?

6) is it so that hdfc standard life insurance company, keeps on issuing the policies without properly informing the client about future premium payment or verifying future earning capacity of its client?

7) the details of policies are as follows-
Sr no policy number unique identification no client id policy document premium policy term sum assured
1 18611889 101n091v02 30402942 hdfc life personal pension plus 48091 10 yrs 434622
2 18332055 101n091v01 30402942 hdfc life personal pension plus 96496 10 yrs 873909
3 18381065 101n089v01 30402942 hdfc life classic assure plus 91673 15 yrs 397657
4 18428270 101n091v02 30402942 hdfc life personal pension plus 88488 10 yrs 801234

Now we hereby request you to help and guide us to get cancelled all these policies of hdfc and refund of our money invested along with interest.

Thanks and regards,
Yours faithfully,
Alka bhise/[protected]
E-mail phoenix. [email protected]

Attachments: soft-copies of policies for your reference.

Address of the company for communication
Hdfc standard life insurance company ltd,
11th floor, lodha excelus,
Apollo mills compound, n m joshi road,
Mahalakshmi mumbai - 400011

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    Bima Lokpal - life insurance policies

    Contact Information

    Company:Bima Lokpal
    Address of the company for communication HDFC Standard Life Insurance Company Ltd, 11th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Road, Mahalakshmi Mumbai - 400011, Jaipur
    Jaipur District
    Rajasthan
    India

    Complaint categoryCategory: Insurance
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