[Resolved]  HDFC Bank Standard Life Insurance Company — MIS-SELLING - MISLEADING LIFE INSURANCE POLICIES

Address:

Patiala, Punjab

At the HDFC bank Nabha there has been gross mis-selling and misleading customers in selling HDFC Life.

I was told that these policies will give you a return of 15% - minimum guarantee NAV of Rs 15 – and since the amount being invested is substantial it will be spread over the 5 year term and even if I choose not to make payment in the following years the NAV will still stand – WHICH IS NOT THE SAME FROM WHAT IS WRITTEN IN THE DOCUMENTS THAT I RECIEVED.

They were all in HDFC SL CREST

Here are the policy numbers and premium amount :
14960689 – Rs 100,000
14950569 – Rs 200,000
15118605 – Rs 150,000
14992439 – Rs 50,000


In the past 6 months I have been running from pillar to post trying to get this clarified.

More than half of the staff at HDFC bank has have all either left the branch (quit their job) / have put in their resignation and no one has been able to clarify this matter.

Mr Amit Khullar the Branch manager has been evading this whole issue for a while and without investigating he just keeps assigning people to take care of the account and washing his hands off the issue.

I did try to report this matter to Mr. Govind Pandey (North India head) and Mr. Dashmeet Singh (for the past 4 months but neither one of them has taken the time to come an investigate the matter.

I have reported this matter to IRDA – Insurance development and Regulatory Authority to investigate the mis-selling

I request you to kindly check practices at the bank being frustrated from this more than half of his staff has resigned or has turned in their resignation in the past few months.