The only purpose of writing this review, is to make you all aware of HDFC Insurance Products. Please read below review before buying any HDFC Life Insurance Products:
When I decided to go for a Term Plan, I had many options. But because of HDFC relationship manager and HDFC Insurance Sales Manager’s continuous followup, I decided to go for HDFC Product. Before applying, they would call me daily to get formalities done asap. Initially I had choosen coverage of 50, 00, 000. Accordingly I paid premium of Rs 20, 000 plus. But when I came to know about Birla Sunlife (they have much lower premium than HDFC and better products), I decided to go for 10, 00, 000 coverage. Accordingly I called up HDFC Sales Manager and requested for change of coverage. He said it will be done. This all happended in month of Mar 2009. The policy was issued on 17-Mar-2009.
After than for 1 month, I did not hear anything from him. He would not take my calls. I tried reaching him many times. I wanted refund (I had paid premium for 50lakh, while I requested for 10lakh policy). Only on 14th April, when I called customer care, I was told that I was issued a 25lakh Policy as on 17-Mar-2009. Till this date I was not even knowing that the policy was issued. As I never wanted 25lakh coverage, I went to HDFC Koremangala Branch and Submitted an request for early termination (before policy was printed). They assured me that I will get full refund as Policy was not printed as of 14-April-2009. But it never happened. When I escalated this issue, I was informed (in first week of June) that Policy is printed on 30-June-2009. Unluckily, the courier went back because of change of address. Then on 9th June I submitted letter for change of address to koremangala branch. Since last 2 weeks they are telling me to wait for the documents. And today they told me that, address is update and now I have to submit and written application to get policy documents on new address...Have you ever gone through this much torture....I am feeling helpless and have decided to get a help of Consumer Forum...
So be aware....You...sure...may not want to go through what I am going through...