HDFC Bank — FORGERY, DUPLICATE SIGNATURES, False commitments, unfair and malpractices

Address: Delhi

Name - Vipin Kalra
Mobile no. - [protected]
Policy no.[protected]
Policy name - HDFC Life Sampoorn Samriddhi Insurance Plan
Broker - NetAmbit

I would like to highlight the fraud conducted by HDFC Life and NetAmbit.

The details of fraud conducted with me:
• It is a clear case of forgery, duplicate signature and false commitments.
• My signs are forged. I did not sign on the policy illustration.
• Printed form in the policy document is too blurred, unclear and unreadable. I showed it to branch people and they accepted this. Even the executive at the branch could not read it.
• Return on policy is much below than promised. Executives told me that I will get Rs. 2,80,000 by paying Rs.1,50,000 in 5 yrs. (Rs.30,000 annually). How can they sell insurance by saying it as an investment plan?? Moreover, sum assured is Rs1,10,000. Even after paying Rs.1,50,000 in 5 yrs, I will not get Rs.1,50,000.
• I was never aware that the policy is being sold by the Broker NetAmbit. Executives always told me that they are the employees of HDFC Life, Mayur Vihar Phase 1, and Delhi branch.
• The executives told me I should say yes to everything on welcome call as the agents doing welcome calls have fixed scripts in front of them and they are least aware about the policy. Also, the calling agents always tell the minimum maturity amount and these people (HDFC people) have more information on policy and about its guaranteed bonus, etc. Further, denying to terms on welcome cal can lead to negative impression, policy cancelation or HDFC will not service the policy in future or, HDFC life can blacklist me. I trusted them as they were HDFC executives.
• They also informed me that branch is offering cash back every year and a club membership from its own just to increase sales.
• The names, numbers and email Ids of the executives who were in direct touch with me are -Sumit Chaudhary (mobile no.:[protected]), Rahul (mobile no.:[protected]), Amit (mobile no.:[protected]), Vinod (mobile no.:[protected]), Email Ids used: [protected]@hdfc.com and [protected]@gmail.com, Landline number:[protected].
• First they issued me a policy with 11 years terms. When I asked them that I was interested in 5 years, they got that policy cancelled and issued me fresh policy with 5 years terms. Due to this, my policy number changed to 15729572 from 15627473. They asked me just to give a letter that was collected by an executive but I never signed any illustration or new form as they told me that it was not at all required. But I was shocked to see that the new policy received contained my forged signs.
• After this, I tried to contact the above 4 executives but all mobile numbers and landline number was switched off. I kept on trying for few days and due to this I lost on free-look in period. During my initial talks, executives told me that they can get the policy cancelled anytime within 6 months and I trusted them as a genuine employee of HDFC. I also mailed them but all went unanswered.
• I visited Mayur Vihar Phase 1, Delhi branch on 30-Mar-13 and found that policy was issued by NetAmbit and HDFC life has nothing to do with it.
• I filled written complaint which was sent to grievance department in Mumbai. They conducted their own assessment without even contacting me once and denied my complaint as missale.
• When I planned to file it on IRDA web portal, I found that someone has already created my login ID using my personal details such as mobile number, address and raised very brief and basic complaint (don’t know its HDFC or NetAmbit). The complaint raised was just on free gifts and vouchers offered by the agents. It never mentioned that that SIGNS WERE FORGED, PRINTED FORM IN THE POLICY DOCUMENT IS TOO BLURRED AND UNREADABLE and RETURN ON POLICY IS MUCH BELOW PROMISED.
• Now branch people are not listening to me. None of NetAmbit person is traceable.

In addition to financial harrasement, it is mental harrasement too which I am going through. I would like HDFC people to refund my money at the earliest.