[Resolved]  HDFC Bank Standard Life Insurance — policy no:[protected] Standing Instructions

I have taken the above HDFC Standard life Insurance Policy in July 2005, in my Son's name Varun P. Sarma ( who is a student still), with an Annual Premium of RS 19450. The Policy was taken through Mr. Vinayak Haldive o[censored]nion bank of India. As per the request of Mr. Vinayak for regular payment of Premia, I gave standing instructions at that time to Vinayak Hadive, to debit the Annual premium to my Union Bank Account, through Union bank Hyderabad, Kandigal Branch, Branch, As Standard Life Insurance has tie up with Union bank for marketing this product. They specifically requested for this arrangement for payment.

However due their internal problems (between HDFC standard life Insurance & Union bank of India) this standing arrangements did not work and my Policy has entered in lapsed state., which I was not aware for quite some time because I am in overseas and no mail reached me about this lapse, till I visited India and ascertained about this Polciy status.

Now they are insisting that I should pay interest charges of over Rs 10, 000( accumulated so far ) in addition to the premium amount . However I requested for waiver of the interest charges for no fault of mine and I was ready to pay the all the premia. I have been regularly following up with HDFC standard life Insurance / Union bank for the revival of my sons’ above policy without any extra charges for no fault of mine. It is nearly over three years, neither action has been taken by HDFC standard life Insurance nor Union bank of India about this matter. My first premium amount of RS 19450/ is just swallowed by HDFC Standard Life Insurance. The people I am in Contact with HDFC standard life Insurance are as follows.

1. Mr. Vidit Srivatsav
2. Mr. Nirmal
3. Mr Anil Dubey
4. Murugesh

Union bank
Mr. Vinayak Haldive
Only Lady who requested to take up this Policy

I made three visits to HDFC standard life Insurance office in Mumbai Church gate office but of no effect as no senior people are available there. To be very honest these companies advertise in a big way, when we go to see their customer services you would know how poor in handling their customer grievances. There quite a lot of similar complaints which HDFC Standard life which they never attend. Under the Circumstances I request you to help me to revival of the Policy without payment of any extra interest charges, I am prepared to pay all the outstanding premia up to now, or else to arrange for refund my amount of RS 19450.

Please help me.

Best Regards
P. S. Sarma
Father of Varun Sarma ( student)

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