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Fraud by HDFC Ergo during Home Insurance Cancellation

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Location/place: New Delhi

Name of company/service: HDFC Ergo

Raising a complaint against HDFC Ergo for cheating me in refunding the amount of the insurance. The loan was cancelled as on 28th March and I was told that the insurance cancellation procedure starts automatically since the underlying loan liability itself is foreclosed.

As per the discussion with the HDFC ERGO team sitting in the Munirka office, the foreclosure proceedings start when the loan is foreclosed and I would be refunded the money back with the foreclosure happening as on 31st of March 2013. I never could understand that these people are made to sit in HDFc home loan office just to make fresh sale and they bluff their way out with existing customer by giving false information.

When I was issued the refund letter by HDFC Ergo , I was shocked to see closure of the policy was taken from 30.4.2013 by them, thus cheating me of 1 month of premium which cannot be deducted since the underlying liability was itself closed. I would like the refund of premium of April 2013 to be sent immediately to me – WITH INTEREST. I have raised a complaint with your call center as well for this and against the employees sitting in HDFC home loan branch (HDFC Ergo employees) for providing wrong information. The complaint ID is 7047137. I still have not received any refund as of now. On May 22 on of the call center employees gave another shock to me by saying that no April refund would be made and I need to collect my money from the employee sitting in HDFC home loan office in Munirka directly. Moreover she said that HDfc ergo has no connection to HDFC home loan. If that is the case , please remove the HDFC acronym from HDFC ergo’s name and publish disclaimer in leading dailies. Strong action awaited against the call center employee also.
Await my refund immediately.

Comments

7 responses to “Fraud by HDFC Ergo during Home Insurance Cancellation”

  1. Avatar
    Anonymous

    Dear Mr.Amit ,

    We need more details like your insurance policy number or your contact details to resolve your query/complaint.

    For any queries please feel free to call our Toll-Free:

    1800-2-700-700 (from any Landline & Mobile)
    1800-226-226 (from MTNL or BSNL Phone )

    Regards,

    HDFC ERGO General Insurance

  2. HDFC ERGO Avatar
    HDFC ERGO

    Dear Mr. Amit,

    We await your revert with your contact details, kindly share the same within three days so that we can resolve your issue at the earliest.

    Regards,
    HDFC ERGO General Insurance

  3. Rahul Avatar
    Rahul

    I have same problem.

    Raising a complaint against HDFC Ergo for cheating me in refunding the amount of the insurance. The loan was cancelled as on Aug 2012 and I was told that the insurance cancellation procedure starts automatically since the underlying loan liability itself is foreclosed.

    I got refund values from Jan 2014.How HDFC Ergo can charge customer for insurance since the underlying loan liability itself is foreclosed.

    Rahul
    [email protected]

  4. ranjan Avatar
    ranjan

    HDFC ergo is really shame . I have taken the insurance against the home loan. However due to hob loss ,I have requested the insurance to assist me . they have given a pathetic reason that I am a contract employee hence they won’t be able to help.
    Why people opt for the insurance.??
    I am shocked by this answer from HDFC ERGO.

    Everyone work in this private sector with some terms and conditions in their offer letter.

    Hence friend ,my suggestion to you all that please think twice before enrolling the HDFC ERGO insurance.they will cheat with their hidden tnc for a claim.

  5. KS Avatar
    KS

    Well,

    In my case @HDFC ltd office Vijay Nagar, Indore, HDFC insurance stadd told me that insurance is mandatory so you have to take it. I had a plan to repay whole loan amount within a year but he didnt agree and said the amount you are paying will be returned when you repay your loan.
    When I repaid my load amount I got to know that a loarg amount appx 40000 would be deducted as early closure of insurance.
    This is totally fraud. So far I have not claimed that partial payment and fighting with HDFC to get back my money in full as commited by HDFC employee.
    But Its now more than 2 months, nothing happend yet.
    I have met Vijay Nagar Indore branch manager Shaibal D, @M.G. Road Main Office Mr S Ganesh, @M.G.Road Indore Main Office My Jayant Surana.
    Nothing happend so far. It looks like it is all rubbish customer care , customer satisfaction, values they talked about.
    A sales staff (Vijay @ Vijay Nagar Indore) misguided me and caused of loss of thousands, and no one care…
    sad…

  6. Sunil Singal Avatar
    Sunil Singal

    Guys,

    Never take any insurance policy from HDFC Ergo. They purposely keep some loop holes while issuing the policy or renewals, so that in case any claim arises they can reject it. I faced this issue while renewing my car comprehensive policy 2311201053803902000. Even they do not allow you to cancel it as they deduct good 20% if we cancel the policy even within a week.

    Take any xyz company policy but avoid HDFC as it may give lower premium but its actually no insurance at all.

  7. Awadhesh Kumar Avatar
    Awadhesh Kumar

    I am Awadhesh Kumar Singh, My hdfc ergo policy no.2918201482768500000 and loan account no. 621689765 against this policy for home loan security. This policy didn’t protect my jobloss because I was a contract employee. Therefore I cancel the policy .Kindly close my loan account also.

    (A.K.Singh)

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