Complaint Details

Status	:	Closed
Complaint No	:	0003665/2013
Category	:	Insurance
Date	:	13-03-2013
Subject Line	:	Policies sold on false commitments
Complainant	:	Nitin Kapoor
Address	:	809 Mass Apartments Plot No 24 Sector 10 Dwarka
Complainee	:	HDFC Life
Address	:	Sector 18 Branch

Complaint Details
I purchased a policy in May 2012 under HDFC Classic Assure - policy No. “15204533” after Mr. Vimal for your Noida (Phone No. 9540824446) branch called me and informed that my existing HDFC Unit Life Policy # ”11082042” is under loss and should be surrendered. He also said there are directions from IRDA then all unit based policies should be converted to Guarantee Return policies as they are running in losses. He gave me offer to take a new Classic Assure policy with Rs. 30000 annual premium and my Unit Plus policy will be surrendered and I will get my money back with 9% interest and this process will start after I purchase Classic Assure policy. He gave me a secret unique code for conversion of policy. But after I got the policy the person never picked my call.
Another instance happened with me this year when Mr. Varun from your Sec-18 Noida branch (Phone No. 9266808813) called me up and told me that there is an agent commission due on my HDFC Unit Life Policy # ”11082042” which is being given by the company for those policies where agent never turned up after selling the policy. He told me to take a new Sampoorn Smridhi policy# “15848631” of Rs. 20000 single premium policy and the agent commission of Rs. 72000 will be released to you after this new policy is purchased. I told him the earlier case of fraudulent selling of above policy for which he said he is calling from Account department of HDFC Life Janak Puri branch and is direct from company itself. I trusted him and gave the cheque and policy is issued to me with Rs. 20000 annual premium. Here, I was promised for single premium but the policy is issued for annual premium. When I called Mr. Mritunjay who entered my policy details and narrated the entire case he told me that there is no policy of agent commission by the company and Varun might have sold this policy to meet his targets.
I do not understand should we trust employees of HDFC Life or not. What kind of marketing strategy is this to lure customers on false grounds? This is totally un-ethical and un-acceptable. I am continuously receiving calls from HDFC Life to surrender my Unit Plus policy and take new policy. I am extremely disappointed with this and have no trust in HDFC Life now.
I request you to please look into the matter and cancel these policies sold on false statements.

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