Cashe — wrong information about policy(income protect plan)

Address:

Allapur, Vivekananda Nagar, Borabanda, Hyderabad, Andhra Pradesh, 500018

Hi
I am chaitanya vinnakota was working with cognizant technology solutions india pvt ltd, hyderabad has taken the loan on cashe app of rs 105000 on 2nd aug 2019 based on my salary. At the time of availing loan, one of the executive from their team contacted me through phone and told me that i need to take income protect plan as mandatory as insurance from them. I agreed with him and avail the loan of rs 89742 to my account, rs 1775 as processing fee, rs 320 as gst, rs 5288 (Insurance amount) for income protect plan and rs 15750 as interest charges.
Due to cost cutting and sudden layoffs (Terminations) from my company, i had discussion with hr service delivery team on 5th sep 2019 and they asked me to do resignation forcibly which i did and unfortunately i lost my job with out any prior notice period which is normally 2 months and was relieved from the organization on 13th sep 2019. Regarding this i immediately sent a mail to the supporting team of cashe and asked them to advise as my loan was covered with income protection plan. They have mailed me and advised me to reach out to the icici lombard. Immediately i contacted icici lombard to claim the insurance. Initially they have raised claim request for the wrong policy which is not applicable to this loan. Later i came to know that the wrong policy was mapped and it was not applicable to this loan. On 6th oct 2019, i again contacted icici lombard team and ask them to check my loan (Cashe) was covered with income protect plan or not? They have assigned correct policy number for this time for the applicable loan and the executive was assured me you will definitely claim for the insurance as the insurance covered period is from 2nd aug 2019 to 1st aug 2020 and initiated the claim reference number is scm[protected] for the policy no 4151/ip/[protected]/00 and the executive told that they can send the letter of requirements to my communication address and to my personal email id, for that i have to resend the required documents with in the mentioned date. I sent all the required documents to them by courier. After few days i got a letter from icici saying that my claim got rejected. I had given all the support documents which they asked me to send and again i contacted icici why my claim got rejected? As they answered me that is not under "waiting period". The executive which initially worked on my loan from cashe didn't told me about any waiting period for the insurance. The executive which i had given request for cliam on 6th oct 2019 from icici didn't told me about any waiting period. They have deducted the amount of rs 5288 as insurance for income protect plan. What is the purpose of taking insurance from cashe through icici? Who is responsible for this? Why can't they give the correct information about policy terms and conditions when i was availing loan from them? Now i am jobless, family and kids and how can i repay their amount? Previously i had taken 3 loans from cashe and paid on time because i was working at that time. Now the loan was covered with income protect plan and it was useless. Whose fault is this? If they didn't claim for this type of situation and not able to give the correct information about the policy why should they have taken the amount of rs 5288 as insurance? What is the purpose? Who is suffering now? I request you to please kindly ask call recording from cashe on 2nd aug 2019 whether the executive mentioned any terms and conditions of income protect plan or not to me. Right now i am not able to pay their loan amount as i am not working. Even if it was covered with insurance its useless.. I will pay their loan amount for sure once if i get any new job.. Moreover i am getting unnecessary messages from cashe collection department saying "i have to attend to the court". Why should i? I have given them all the correct information about my situation and my employment. As they are not given me the correct information on policy terms and conditions of loan i am putting this issue on "cashe" in this forum. I am sharing all the necessary documents to you as i request you to please do favor and request you to please take necessary and immediate action on cashe (Bhanix finance and investment limited) as they are giving wrong information to the customers like me and forcing us to pay loan amount

Thanks & regards
Chaitanya vinnakota
Mob: [protected]