HDFC Bank Standard Life Insurance — Fraud by HDFC Standard Life

11 Reviews
This is with regards to a very planned fraudulent approach adopted by HDFC Standard Life Insurance in order to befool customers and sell their policies fraudulently. I received a call on 5th Nov '12 from one of the life insurance representatives who gave me all wrong information about the policy. The details about the benefits as per him were Sum Assured of INR 14.50 lacs, 35% cash back and some gift voucher of INR 30000 as a part of Karva Chauth offer. A person came to my place to collect the documents and gave me a sheet showing 14.5 lacs of return. When I asked him that this is just a white sheet, he told me that the same would be written in the bond paper that the Sum Assured would be 14.50 lacs. Then the person left and I got a call from their department manager named Amit[protected] who reiterated the same benefits and tried to convince me that I should give a green signal on the third party verification call else they wont provide service to me in the future. Understanding his ill intent I waited for the third party verification call which happened on 7th Nov '12 and it was from Net Ambit. On clarifying it was made clear that the actual Sum Assured of that policy is only INR 4.50 lacs which is 10 lacs less than what was communicated to me by the HDFC Life Insurance Representative, the document collector as well as their Fraud Manager Amit.I asked the Net Amit representative to mark the verification Red as all wrong information was shared and initiate action against such big FRAUD.Though I was given assurance that the necessary action would be taken I also called up HDFC Bank Credit Card department twice and asked them to stop the payment from HDFC Standard Life and explained the representatives in details about the entire episode.On both the occasions they said that I need to call when the charges are actually applied as so far it has not been applied and once its applied if I call them up they would reverse the same.A week later I mailed to the customer service department of HDFC Bank and asked them to STOP the transaction from HDFC Life. This mail was sent on 15th Nov '12.In the interim I also sent two mails to the customer service department of HDFC Life and they acknowledge and apologize on mail that concerned department would be shared the feedback and that there would not be any problems henceforth.I receive another call from HDFC Life on 16th Nov '12 and their representative ask me when I categorically said "DON'T CHARGE MY CARD. I HAVE BEEN MISCOMMUNICATED AND I DONT WANT YOUR POLICY". But to my utter astonishment I find 4 hours after that call my card was charged with INR 49999.00 in MUMBAI at HDFC LIFE CONVT on 16th Nov '12 at 07:08 pm.I immediately called up the HDFC Card department and asked them to reverse the charges. When the representative showed inability to reverse it I asked for a supervisor. A callback was scheduled for me and I received a call on the same day from Daniel Gomez, one of the supervisors from the credit card department. I explained to him the entire proceedings so far when he said that he has taken up the complaint and would ensure that the action is taken on the same. He asked me to send the Card Dispute form as well to expedite things. As per his suggestion I visited the HDFC Bank Branch at Masoodpur (Vasant Kunj, New Delhi) along with the Card Dispute Form and a hard copy of a two page long letter explaining in details about everything. I took an acknowledgement from the Branch as well so that they are not able to act smartly here. The same evening I received another call from Net Ambit and questioned the representative that despite marking the verification RED how was the card charged and the transaction happened without any issues. The representative apologized and said that an action would be taken so that the reversal of charges happen as soon as possible. Today I get a call from Amit from HDFC Life Insurance asking me to make the third party verification call Green and that he would send a representative at my home along with the cancellation form and this issue would be resolved. Smelling his ill intent once again I became alert. I received a call today at 04:44 pm from a cell phone number [protected]. When I picked up the call the person said that she is a representative from Net Ambit. She again asked me about the policy. I told her that twice before I have made the verification Red but despite that the charges were applied on the card. Once again I asked her to mark the verification Red and ensure that the reversal of charges happen. I have shared the contact details as unlike the previous two times when the call came from land line numbers this third time it was from a Cell Phone number.Still the representative assured me that necessary action would be taken from her end so that such fraudulent things does not happen and also thanked me that I brought the matter to light. But few minutes ago I receive a mail from Balaji (Deputy Manager-Customer Service :: Cards Division) asking me to settle the matter with the merchandize. I have mailed back with a solid rebuttal and tried to trigger the alarm for the last time so that they act as per their promise and do not change their verdicts every now and then. I am sharing this complaint expecting a strict action against the parties involved in supporting this fraudulent act which has not yet been settled despite a series of actions to stop the same.
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HDFC standard life insurance — fraud by customer

the comany froad by customer this is totaly sameless point i take policy young star in hdfc insurance. in nov-09, i paid 60,000 Rs by compnay but totady i check in internet the opening balance show in 20,000 that i call in customer care i asked by my policy so i am totoly surprised the customer care excutive said i m paid 20,000, the he shoud check and told me company recived 20,000 and remaing balance 40,000 back to customer, but i am not recieved any check by hdfc so pls help me otherweise i to to counsumer couart and i will done FIR in Police by you compnay


Policy No[protected] Young Star Super
Dear Sir,

We have noted your concerns.

Please share your policy details on [protected] for us to investigate and serve you better.

Dear Mr Ahmedi,

We value your interest in HDFC Life and we apologize for the inconvenience caused.
Your concerns are registered with the grievance team for investigation under Complaint No. [protected].

We will revert to you with a resolution within 14 days.

Assuring you the best of our services always.

Dear Mr Ahmedi,

Please note we have taken cognizance of your complaint and processed quick investigations.
We have accepted your look in request. Let us assure you that what happened in your case is not typical of HDFC Life’s level of commitment. We continue to be committed to providing you and all our customers the highest levels of service in the industry.

Dear Mr Ahmedi,

Have you got your money back?????? Because the same case happened with me also.. Even the landline number that you have mentioned is the same.. Please reply as I am in the same position today as you were 4 months back and I am struggling hard and fighting with these people to get my money back. If possible, can you please share your contact details or you can also get in touch with me on [protected].

Hi Mr. Ahmedi,

Adding to the above thread, I would also like to raise my voice regarding the fraud conducted by HDFC Life and NetAmbit.

Lets join hands and be together to fight for our rights as a Consumer. Please contact me at below number the earliest so that we can take up the matter forward to the Consumer Court.

Name - Vipin Kalra
Mobile no. - [protected]
Policy no.[protected]
Policy name - HDFC Life Sampoorn Samriddhi Insurance Plan
Broker - 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 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] and [protected], 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.
I have a issue, As per My TDS statement Hdfc Standard life deposited amount in my account and TDS deducted, but that amount is not reflected in my bank statement.
i was worked with Standard life as a agent, i did some policies, but last few yrs i left all and working in BLR with another company. last year i received 9 transaction in my TDS account, but against that fund in not in my Bank Account.Can some one help me.
kindly update me on : [protected]

Arun Mishra
HDFC group has invested huge sum of money to set up offices and acquire assets out of money fraudulantly obtained by cheating thousands of innocent investors. The government should immediately initiate action on such companies. I have lost money by investing in simply life policy. I hereby call upon general public never to invest in HDFC.

We are doing an investigative report on HDFC insurance companies and their agents defrauding, cheating or deceiving customers for monetary gain, acquiring commission or meeting monthly quota. If your signature on any policy was obtained through false representation, lies, other deceit or by employing pressure tactics, we want to hear your story! Please email us at: managing.[protected]
Thanks, S.Atanya, The Global Calcuttan Magazine

Anonymous calls

Although i have activated DONOTDITURB in my vodafone number the HDFC bank gave my contact details to all other banks and i am continuously received calls from all banks for unwanted reasons.

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    HDFC Bank Standard Life Insurance - Fraud by HDFC Standard Life