[Resolved]  HDFC Bank Standard Life Insurance — Not getting refund of premium for policy cancelled in Free Look period

Please help me in getting the refund of premium, I have tried with HDFC Standard Life to get refund of premium for policy cancelled during Free look period. But they don't respond and If they respond then it is a very standard answer that "they will refund once the investigation is over".

I don't know what they are investigating for such a long time. I only see this as a way to keep customers money with HDFC Standard Life and use it for there own interest.

I have written in all communication with HDFC that I don't have any complaint against any individual so what is it that they are investigating, but there is no response.

I would also request that as the banks do with defaulters same should apply to HDFC, HDFC should pay penalty of 24 % of interest for time beyond 15 days from receiving the cancellation letter . As 15 days is standard time taken to refund the amount.

Please find the trail of mails exchanged with Standard Life.

Thanking you anticipation

Regards
Rajiv Yadav
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RE: 'HDFCSL=028-673' Policy No:13008995‏
From: [protected]@hdfcinsurance.com ([protected]@hdfcinsurance.com)

Sent: 25 August 2009 19:34PM
To: rajiv yadav ([protected]@hotmail.com)
Dear Mr. Yadav,

With regard to your e-mail, we would like to inform you that your issue is under has been registered under the complaint no:75047 and the same is under investigation.

We request you to allow us some time and we will get back to you with the resolution shortly.

We assure you the best of our services always.

Warm Regards,

Venkatakrishnan
Customer Service Officer.
********************************************************************************...⇄
For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on[protected] or[protected]Any phone)
Send us a call back request through SMS – sms SERVICE to 5676727
Email us at [protected]@hdfcinsurance.com or visit our website www.hdfcinsurance.com
********************************************************************************...⇄

-----Original Message-----
From: rajiv yadav ([protected]@hotmail.com)
Date: Tuesday, August 25, 2009 11:44 AM
To: HDFC MD Aditya Puri (aditya.[protected]@hdfcbank.com)
Cc: hdfc insurance service ([protected]@hdfcinsurance.com); amit anand HDFC ([protected]@hdfcinsurance.com); rajiv yadav ([protected]@hotmail.com)
Subject: Please help me in getting the refund processed for policyno:13008995

Dear Mr. Aditya,

I have tried my best to get answer and refund of my money (Rs Three lakhs) paid against cancelled policy 13008995, but don't see anything happening in this direction. So finally I am writing with grievance to you.

As you can see from below mails, I received the policy documents on 16-Jul-2009 and submitted Free-lookin cancellation request on 20th Jul-2009, But still I am struggling to get refund of money.

Below mails were exchanged with HDFC INSURANCE SERVICE Dept. regarding reason for delay in refund of insurance premium amount (Rs 3, 00, 000).

As per all discussions and policy document it should not take more than 15 days for refunding the amount for lookin cancellation. But I am now always informed that HDFC is investigating the complaint, I am unable to understand which complaint is under investigation. I have never logged any complaint, this thing I have been telling everyone personally in the branch and over the phones, but no one seems to be bothered about my statements and are just trying to make their own interpretation and say that they will only refund money after their investigation is complete.


I am really worried about my money as it seems that there are no timelines on which employees work in HDFC.

I got your email-ID from internet, I view this is the only authority from where I can expect response and believe HDFC employees will listen to you, If not to the customers.

Please Sir, look into this issue and help me in getting the refund on my money as soon as possible.

Thanking you in anticipation

Warm Regards
Rajiv Yadav.


________________________________________
From: [protected]@hotmail.com
To: [protected]@hdfcinsurance.com
CC: [protected]@hdfcinsurance.com; [protected]@hotmail.com
Subject: FW: 'HDFCSL=028-673' policy no:13008995
Date: Sat, 22 Aug 2009 14:31:59 +0530

hi Amit,

As discussed I am forwarding the mails which were exchanged with HDFC INSURANCE SERVICE Dept. reason for delay in refund of insurance premium amount(Rs 3, 00, 000).

As per all discussions and policy document it should not take more than 15 days for refunding the amount for lookin cancellation.
But I am now always informed that HDFC is investigating the complaint, as mentioned in below mails.
I am unable to understand which compliant is under investigation. I have never logged any complaint, Infact I have written letter with subject for cancellation of policy in free lookin period and refund of money.

I am receiving similar response from HDFC since 20-July-2009. I don't see there can be any explanation for so much harassment. I am made to run for my own money, I request the refund cheque or transfer of money to my HDFC account within next five days (BY WEDNESDAY) and written response of this mail by Monday providing the details of refund cheque.
If I don't receive any response and refund of my amount I would be forced to register complaint with INSURANCE OMBUDSMAN.


Rajiv Yadav.



________________________________________
Date: Tue, 18 Aug 2009 14:00:04 +0530
From: [protected]@hdfcinsurance.com
Subject: RE:'HDFCSL=028-673' policy no:13008995
To: [protected]@hotmail..com
Dear Mr. Yadav,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that as we are checking the details with HDFC bank. Therefore we request you to allow us another 10- 15 days of time.

We assure you the best of our services always.

Warm Regards,

Ponni
Customer Service Officer.
********************************************************************************...⇄
For any further queries or clarifications, please contact us through any of the following modes:
Call us toll free on[protected] or[protected]Any phone)
Send us a call back request through SMS – sms SERVICE to 5676727
Email us at [protected]@hdfcinsurance.com or visit our website www.hdfcinsurance.com
********************************************************************************...⇄


-----Original Message-----
From: rajiv yadav ([protected]@hotmail.com)
Date: Monday, August 17, 2009 05:59 PM
To: hdfc insurance service ([protected]@hdfcinsurance.com)
Cc: rajiv yadav ([protected]@hotmail.com)
Subject: RE: Policy no: 13008995

Dear SirMadam,

I am not sure what kind of investigation is taking place and why it has taken month and is still under progress. I am concerned about my money which is with HDFC, there must be some time frame for resolving the free-lookin cancellation.

you are sending me the complaint number but complaint number does not suggest me what complaint is being investigated. I submitted policy document and letter with Free-lookin cancellation request.

The response from HDFC is not answering any of the raised concerns, can you please be more specific in your answer and provide exact details on when I can expect(timeline) refund of the 3, 00, 000 amount from HDFC.

Thanks
Rajiv Yadav.


________________________________________
Date: Mon, 17 Aug 2009 13:18:43 +0530
From: [protected]@hdfcinsurance.com
Subject: RE:'HDFCSL=028-673' Policy no: 13008995
To: [protected]@hotmail.com

Dear Mr. Yadav,

Greetings from HDFC Standard Life Insurance Co.. Ltd!

With regard to your e-mail, we would like to inform you that we have received your compliant. The compliant number is [protected]. The compliant is still under investigation and you will be receiving the revert shortly.

We hope to have addressed your query.

We assure you the best of our services always.

Warm Regards,

Ponni
Customer Service Officer.
********************************************************************************...⇄
For any further queries or clarifications, please contact us through any of the following modes:
Call us toll free on[protected] or[protected]Any phone)
Send us a call back request through SMS – sms SERVICE to 5676727
Email us at [protected]@hdfcinsurance.com or visit our website www.hdfcinsurance.com
********************************************************************************...⇄

-----Original Message-----
From: rajiv yadav ([protected]@hotmail.com)
Date: Friday, August 14, 2009 07:46 PM
To: [protected]@hdfcinsurance.com ([protected]@hdfcinsurance.com)
Subject: Status of free lookin cancellation of policy 13008995

Dear SirMadam

As discussed over the phone call made to service that the policy documents were submitted with HDFC and Free lookin Cancellation of same was requested.
For the same I have also given written request to on 20/07/2009 and prior to that I discussed for cancellation of policy with HDFC Branch sector 62 .
I would request you to please check and share the status of cancellation process as its been more than 25 days since the time I submitted the documents, Also kindly let me know how much time it will take to refund the 3, 00, 000 amount .

Thanks
Rajiv Yadav
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