HDFC Bank — miscommitment by policy bazaar executive time of selling the policy

Address:

New Delhi, Delhi, 110019

Last year i have purchased a policy of hdfc life click to invest through policy bazar. My policy no is 20323690. Wherein, i have registered a complaint to hdfc customer care to mr. Praveen patnakar mob: [protected] about the wrong specifications about the policy.

I was told that i will get the double amount of my investment of rs. 60000/- after completion of five years of locking period with this policy. Though it is for 10 years, after five years if i want i can take out the entire deposited amount.

I was supposed to receive hardcopy about the updates of my premium but since the policy is taken, i did not receive any of the hard copy & any information from either policy bazar or hdfc.

Very late through mr. Praveen patnakar, i have come to know that my monthly premium of rs. 1000/- is being shared by hdfc & policy bazar where 300 rs. Is being parted to policy bazar as a commission & balance of rs. 700 is going to hdfc.

Such information is not shared to make my decision for not taking the policy.

It was also told by mr. Patnakar that i am not going to get double amount at the time of 5 years completion, it may be the premium deposited (Rs. 60, 000/-), lessor or may slightly higher. There is no certainty & it depends totally on the market.

I raised my complaint to bimalokpal but not satisfied with their solution. A person who was representing my case has given me an unconducive solution. He put the proposal of taking another policy where the paid premium will be credited & after maturity i will be able to avail it. But for taking my less than a year premium again i have to deposit rs. 30, 000/- for the policy means again i have to be inconvenient & what will happen if i could not pursue further the policy due to financial constraint.in such a situation i will not be able to recover any of the policy amounts.

The question is why i should be suffered for policy provider company & their associates' wrongdoing?

My monthly premium was rs. 1000/- of the above-said policy.

It is a very serious issue. The banking companies are outsourcing their work to other service provider companies like policy bazar for the collection of funds wherein, they are is-committing the customers for selling the policy due to which the customers are facing very serious problems.

They are being cheated & harassed. I request you to resolve my problem & help me refund my paid amount against my policy with compensation. I will be very grateful to you.

Thanking you,

With best regards
Sarwan kumar