HDFC STANDARD LIFE INSURANCE COMPANY
Charges/Interest on Premium amount

Respected Sir,

I am working with Union Bank of India & under tie-up arrangement between UBI and HDFC Standard Life I had taken HDFC Assurance Policy No. 10348501 in August. Premium frequency is Annual. Since 2006 my premium is paid through ECS on 13th August every year.

Accordingly, the premium which was due on 13th August was also paid & I am holding the receipt No. AUS04388 dated 16th August for the same. In the month of December I received a call from HDFC asking me to pay Rs. 189/- immediately due to increase in service tax. But my cheque dated 16th December for Rs.189/- was returned by HDFC saying that the amount due is Rs. 13017 including premium, increased service tax and internal charges. In the last week of December I received a cheque of Rs. 12194/- of HDFC without any explanation.

Since February again I am receiving phone calls that my premium due on 13th August is not received. After trying their Toll Free Numbers which did not work, I have interacted a number of times through e-mail with their customer service officers. Then I received an e-mail from Ms. Binita Upadhyay, Customer Service Officer that I am supposed to pay Rs. 12383/- (premium of Rs. 12194 increased service tax of Rs. 189) and reinstatement fees of Rs. 250 and interest of Rs. 902 is waived. I sent my cheque no. 100272 dated 17th March for Rs. 12383/- of UBI which was returned by their Operations Department asking me to pay reinstatement fees and interest.

I am paying my premium through ECS since 2006 regularly. How will I know the increased amount of premium without any intimation? As soon as I received a call to pay increased tax I paid the same which was returned by HDFC. As soon as I received an e-mail to pay Rs. 12383/- I sent the cheque which was also returned by HDFC and converted my policy to the paid up policy.

When my premium amount of Rs 12194/- was paid on 13th Aug and was returned in the last week of Dec, so my policy was in force till Dec. Why should I pay the interest and reinstatement fees and how did they convert my policy into the paid up policy? Why should I bear the loss for the glitches in their systems?

I request you to kindly look into the matter immediately. Awaiting for your response.

Thank You,

Mrs. Mrunal Hendre

Company: HDFC STANDARD LIFE INSURANCE COMPANY
Country: India
State: Maharashtra
City: Mumbai Suburban

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