[Resolved]  Policy Bazaar — Wrong information given while selling policy. Now being charged a lot by hdfc life bank

Address:

560036

Six months earlier i bought a hdfc sampoorn nivesh policy from policy bazaar sales person. He told that first year company will charge 3% of total premium paid to the year and from next month onwards i would be charged 1%. Apart from that there will not be any charges. After receiving policy, i was continuing to pay my monthly sip premium and later thought of checking unit statement then i found hdfc bank is charging every month around 100 ruppes based on policy. When i contacted hdfc then they told that they will charge 7% on first year and then from second year they will charge 6% and also they will charge market investment charges every month. Later, i thought of checking with policy bazzar customer care one lady told me that i accept that our sales person has not disclosed all information and given wrong information to you. I will arrange a call back from him but it's been 15 days i have not received any call back from her. Also, raised complaint to hdfc and escalated to higher department but not got any reply. They all are sleeping. No help and resolution from anywhere i finally i had to cancel my policy for which i will be paying 6% closure charges and my money will be locked for 5 years. Request for irda assistance to look into this matter to stop their licenses for both policy bazaar and hdfc. I am sure there would be thousands of customer who would be suffering this cheating business planned between policy bazaar and hdfc.

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