I had a very bitter experience with HDFC Life when it came to policy cancellation. The policy itself was sold to me through an IDFC Bank agent, who wrongly collected the payment from my NRO account. Later, when I decided to cancel the policy, HDFC agreed to refund the moneybut shockingly, they initiated the refund to my NRE account instead of the NRO account from which payment was made AND GST was collected .
This entire issue arose due to negligence and mishandling by the IDFC Bank agent. Despite my repeated communication and submission of revised account details(NRO) along with all supporting documents, HDFC Life has not resolved the issue nor given me any proper response.
Out of sheer frustration, I escalated the matter to the Insurance Ombudsman and even the Government of India grievance department. Unfortunately, these bodies also seem ineffective, and no concrete action has been taken.
Overall, my experience shows:
Poor accountability by HDFC Life.
Negligence by IDFC Bank agents during policy sales.
Lack of customer support or resolution, even after escalation.
Government grievance mechanisms not functioning in the interest of the common people.
My advice to others: Be extremely cautious when dealing with HDFC Life or buying policies through bank agents. Ensure all details are correct before payment, otherwise, you may face endless stress with no real support from the insurer or authorities.