Why I pick out HDFC is I have dealt with a few Banks and Financial instituitions as an ordinary customer and no one has institutionalized selling fraud as HDFC
I won't get into every detail but I would brush quickly the first phase of the story to reach the latest incident. So a year ago I had developed this sudden angst of what would my family do without me. I browsed through Policybazar and came across a product and suddenly one of the agent calls me and pushes and pushes. I liked the sound of the product which gives out a great coverage and decent returns
I purchase this stuff and after a few months I was horrified to see a monthly charge being cut to the point that invested fund reduces to 3/4th the value. I browsed through the policy document and no where it is mentioned specifically of the monthly charges. I mail them, call them and the people at the other end are so dismissive and rude
So I decided against renewing the premium and a few weeks ago I recieve a call from a company saying they can 'reassign' the policy and I will get a small amount invested plus the insurance coverage. So the story starts here
I go to a Branch of HDFC to see if the call was genuine and the guy aka Relationship Manager calls up another guy, who is a agent. He says 'Mein ek dusra plan samjadungha'. I instantly realise he is going to come up with the 'Annuity Scheme'. I cut him off and says you don't tell me any new plans. Just give me a reply to this and he goes to my old plan downloads the policy document, shows me a chart and says all the charges deducted will be reversed back. I was a little confused at that point. I have never heard or seen in the policy document of charges getting reversed. I thanked him and left the office and I called the HDFC policy center and they confirmed the charges wouldn't be reversed
I was shocked. How can the lie to the face? And that too from time to time
