[Resolved]  HDFC Bank Standard Life Insurance Company Limited — Mis-sold of contract

Address:

Ahmedabad, Gujarat

Dear Sir/Madam, This is in regards to HDFC Life Insurance policy number 16228413. The above policy mis-sold to me by Mr. Dharmesh Shah in first week of August, 2013 and applied online by Mr. Dharmesh Shah on 10th August, 2013. I have attached the HDFC Plan Advice photo copy in which you can verify I have been advised about Classic Assurance Plus for 15 years with paying terms of 7 years. Below is the highlight of Plan Advice: • 15 years term. • 7 years paying term. • Premium of 30, 000.00 per year for 7 years. • Sum Assured 4, 80, 000.00 • Accidental Death Benefit 9, 60, 000.00 • Accident by Govt. Vehicle 14, 40, 000.00. • 1 Lakh for each critical illness (24 illness covered) • RB at 3% of Sum assured • IB at 2% to 4.5% of Sum assured • TB at 45% of Sum assured • At the end of 15 years I have been advised as I will get 16, 66, 000.00. I agreed to Mr. Dharmesh Shah for above plans however when I received the confirmation of policy details it’s totally different what is discussed with me. I contacted Mr. Dharmesh Shah on 11th August, 2013 and advised I have received the incorrect policy details as it is showing 10 years of term and total incorrect Sum Assured. Mr. Shah offered apologies and confirmed he will request to change the term to 15 years and when I asked about Sum assured amount is incorrect he confirm the policy which we explain are incorrect and again apologies me. I asked him to cancel this policy as this is mis-sold to me and he agreed to it and confirmed I will request to get the policy documents once published and arrange for cancellation. I trusted him as he apologies me and as there is 15 day cooling period to return the policy. He also offered me to sold me another policy for which I confirmed once I get my funds back I will get in touch with him. He told me he will send the two policy details in email and send to me on 13th August, 2013. The email received is attached for your reference. I received a confirmation of policy document dispatched and got a confirmation from my father that they have received the policy documents hence I contact Mr. Dharmesh Shah on both of his mobile number [protected] and [protected] however he not picked any calls. Two days later I called him again and he picked the call and when I asked him what is the status of cancellation he told me it is not yet done as the policy paper dispatched to Pune. I asked him you told me you will request the policy papers at your office and process the cancellation. He told me he did send the request to receive the policy papers but dispatched to Pune and agreed to show me the email which he sent to his department. On that day I agreed with him to that I will arrange to receive the policy papers back from Pune and arranged to courier it from Pune. I requested him to send the email but never received. When received the policy papers on 4th September, 2013, I contact him twice on both the numbers but he not responded. On same day I called him approx 21:30 and he agreed to pick the documents from my home on next day and processed the request for cancellation and advised the fund will be back to my account in week. I didn’t received any response from him hence called him on both numbers on 14th September, 2013 however he never picked the call and dropped a text as he is in meeting and contact me later. He called me on 26th September, 2013 and confirm sorry as he not responded the call as he was in hospital due to Chikangunia and he also left the HDFC job and confirm the request for cancellation is not processed and advised me to complain myself. I asked him as you left the job then please give me the details in writing but he refused to do it. He advised he will send the policy papers to me by Friday and send me text with contact person and address to complain to his office on SG highway. As he left the job and declined to give me any details in writing hence I decided to record the call and recorded the conversation in which he confirmed all the faults which is enough proof to identify its not my fault and entire fault of Mr. Dharmesh Shah. I visited the office and met Mr. Hetansh Gohil and he also advised based on this he will not able to help me and advised to raise a complaint. I also received the letter for complain in order to cancellation however when I enquired today i.e. 29th September, 2013 I have been advised by Vijayalaxmi it is confirmed to me as the request is cancelled as the information not received in 15 days cooling period. Please accept this email as formal complaint for mis-sold of policy and cancel it. I request you to please process the cancellation and refund my fund back to me as the earliest. I have attached all the copy of sound recordings, HDFC Plan advice and email received from Mr. Shah. Please do feel free to contact me on [protected] anytime before 14:00 Hrs. as after that I will be in my office and not able to pick the call. I hope for the positive response. Thanks and regards, Upender Singh [protected] (Please confirm the email address on which I can send the relevant document which is enough as a proof of mis-sold of insurance policy)