I have been member of HDFC bank as far as I remember and trusted the bank a lot, until they fooled my unsuspecting mother into buying some Aviva Insurance policies, which were sold as three year policies and now they claim that we have to make payment for our life else we lose 50% of the money we invested. All the conditions were explained to my mother on phone. She was told that this is 3 years policy and that she will be sent documents that she should sign and send back. She was also recommended to buy the policy for me. My mother agreeing with what she was told on phone and as she is not so fluent in english to understand the terms and conditions of Insurance documents, bought the policy for both of us. We have been duly cheated and neither Aviva or HDFC is helping us.

Can someone please tell me how to proceed in such a case? Has anyone filed a formal complaint against HDFC and Aviva as i have heard that thousands of people were cheated with the same policy.


Thanks and Regards,
Parminder

Originally Posted by Parminder02

I have been member of HDFC bank as far as I remember and trusted the bank a lot, until they fooled my unsuspecting mother into buying some Aviva Insurance policies, which were sold as three year policies and now they claim that we have to make payment for our life else we lose 50% of the money we invested. All the conditions were explained to my mother on phone. She was told that this is 3 years policy and that she will be sent documents that she should sign and send back. She was also recommended to buy the policy for me. My mother agreeing with what she was told on phone and as she is not so fluent in english to understand the terms and conditions of Insurance documents, bought the policy for both of us. We have been duly cheated and neither Aviva or HDFC is helping us.

Can someone please tell me how to proceed in such a case? Has anyone filed a formal complaint against HDFC and Aviva as i have heard that thousands of people were cheated with the same policy.


Thanks and Regards,
Parminder

Dear customer,

We apologize if the insurance policy was activated without consent. We would like to investigate this complaint further: request you to write to us directly at talktous@hdfcbank.com with the details of the account to which the policy is linked, the policy number, your contact details and the reference id TTU00086309082010. As soon as we receive this information, a bank representative shall contact you.

Regards, Customer Assistance, HDFC Bank

It is not illegal to put in a legitimate claim and receive a check for the damage amount. The choice to repair the car is up to you, you may keep the money, its called compensation. It is however illegal to receive a full payout and then repair the car for less at the same or a different repair shop. The insurance company would want return of the unused funds. This proses of keeping the surplus funding is called betterment. It is about the same as collecting twice for the same accident. Or for collecting compensation on previous damage. It is difficult, without auditing and diligence, to ascertain weather or not a person has done this.