HDFC Term Assurance Plan
New condition by HDFC Underwriters

I applied for a JOINT term assurance in HDFC Std Life on 28MAY09 vide proposal no : 12933266 and i paid a cheque for first year premium of Rs.7040/-. The amount was encashed by HDFC.

Now HDFC underwriters saying that the proposal cannot be accepted because of the hidden condition ie., my wife is a home maker. They say that the JOINT term can be accepted only if both are getting salary income. This was not disclosed or discussed by their executive and this basic condition is not mentioned in their brochure.

http://www.hdfcinsurance.com/Products/ProtectionPlans/TermPlan.aspx

when i was checking the executive, he told me that they were accepting the proposals till last month and all of the sudden they stopped without giving any intimation.

I reported this to the HDFC grievance cell on 24JUN09 and explained them the complete issue but am not getting any solution from them and they are not guiding me where should i escalate this issue further.

Top of this, i received a letter from HDFC stating that

"Based on the document provided, we may not be able to offer you Joint-Term plan, kindly apply under Joint life savings plan. Requirements for: Mrs. XXXXX is ... (BLANK).

They have not specified why they are rejecting my proposal and they have not specified the document which they need to proceed my proposal. Moreover am not interested in Life Savings plan because it doesn't fit my basic purpose of housing loan protection.

Can some one guide me whom should i approach to get this resolved.

Company: HDFC Term Assurance Plan
Country: India

  <     >