[Resolved]  HDFC Bank Standard Life Insurance — Policy no. 11453673

1. At the advice and supervision of HDFC, Ambari, Guwahati, I have signed & submitted a proposal form on 31/07/2007 for a HDFC Home Loan Protection Plan .The premium amount of Rs. 33007.00 for the Home Loan Linked insurance for the then outstanding amount of Rs. 1, 414, 302.00 was paid by a HDFC cheque on the same date 31/07/2007.

2. But the date of commencement of the policy is 17th December 2007. A wide gap of 4 and 1/2 months. By God's grace I happily lived that gap period with a false sense of security and also paid the monthly EMIs against the HDFC home loan. Hence, by that time my liability on account of my Home Loan has reduced and yet HDFC Standard Life Insurance Co. Ltd. made me pay premium for a period for which I was not insured.

3. The policy is against a HDFC home loan (the outstanding amount diminishes every month with every EMI paid) Linked insurance and the company was unable to process the proposal in time. Hence the onus lies on the company to contact the client and ask for a fresh proposal form against a reduced liability and process it on the same month. I cannot be asked to pay for the company's inaction.
4. I have corresponded with HDFC life insurance through e-mail several times and in the e- mail dated 3rd March 2008 they have stated that they would need some to check with the concerned department and do the needful .

5. But till date they have not got back to me. Perhaps, realizing that their delay in processing the proposal form has cost the client in terms of money they are shying away and not replying to my e-mails any more.