[Resolved]  HDFC Bank — hdfc life unable to get the payment over 5 months

I took a hdfc sl progrowth super ii (Policy number:[protected] on 17th September 2013, referenced by my personnel account manager from HDFC bank. Premium amount is 25, 000. After the first premium paid, I received documents with wrong initial. I kept asking through my personnel account manager for years to update the right name. But nothing happened, I decided not pay premium due to poor response and wrong initial on the policy holder details.

I started to receive calls on 2019 informing about IRDA announcement and to process the pending policy before it goes to govt fund. I researched through blogs and found that this is true about unclaimed policies. So after a month, I said ok to process the policy.

There are two options given to me. out of which I took the foreclosure option. To do this we have to pay 50k to change the broker code. This is the first obligation asked by the HDFC life representative. I wasn't happy to pay but I did it at last. So they put me in to a new HDFC life policy (Policy number:[protected].

Ever since I did the blender mistake of paying them, It kept coming since with various reasons and never stopped. They kept promising to pay every month and I am taking a policy on a monthly basis. No proper communication once they get payment for more than 2 weeks. After I got the policy documents I have to force them to tell me the status by doing direct phone calls and whatsup chat. This is the routine for the last 4 months.

So far I took the below policies and the reason told by the representatives are given below.

1. To get NOC - 75, 000 (bharathi axa life elite advantage plan - Policy number:[protected]
2. GST charges - 99, 000 (bharathi axa life elite advantage plan - Policy number:[protected]
3. rtgs charges - 66, 000 (bharathi axa life elite advantage plan - Policy number:[protected]
4. FNF - 53, 000 (Policy number:[protected]

I seriously said I can't pay every month for ridicules reasons to the representatives on June first week. I felt that I would escalate this on the same time through this complaint. But I waited another month that these companies fulfil their words. But I got disappointed another time.

I did as usual all way of pushing them to give me an answer throughout June. Nothing moved. I received the policy document and then the representatives started to give routine answers in chats. Last Friday I got a call who claims that he is from the accounts department of the HDFC life. He checked my account details given. Monday (1st July 2019) I got a call from the same person (who talked on Friday) and he informed me that the payment is not went through. He told me to pay and clear another thing, this time it is service charge of 12.5%, 83k.

This is the breaking point, we had long calls yesterday. They called me today numerous times. I will no longer attend their calls.

What kind of a procedure is this? Which kind of a company ask the client to pay huge money to get the payment? I tried to get answers from the personnel account manager as well, he never spiel a word for the last four months.

Sum assured for me is : 4, 50, 240 from the original policy payment including the bonus given by the company. In addition the new payments I paid (99k + 66k + 53K) will be send to my account as well. This is the proposed payment. So the total now grows to 6, 78, 240. And I am not sure when this is going to come to me.

I have all phone calls recorded, whatsup chats with me. I can give these information to any original HDFC Life superiors.
I strongly told them in the last calls, I won't pay anymore. But still the calls are coming every hour.

I need your intervention to get back my own hard earned money. I have no confidence on the companies both HDFC and HDFC LIFE. Please let me know in case you need any more information and suggest me the next step.

I need an immediate action from the responsible person. If nothing happen then I have no choice, I will making a petition in IRDA complaint system or I will file a suit against the HDFC LIFE.