May 23, 2007 04:53 PM
5629 Views
I had been called by one Customer Service Executive of TATA AIG during Sept. 2006 and requested me to spare some time so that he can explain to me about Maharaksha Policy. I told him to call me at the evening. He also promptly called me and receited whatever he mugged up about the policy. He also told me that it is a special offer to the HSBC Gold Card Holders. But, I was not satisfied with oral information. I asked for details in printing/ writing and asked him to send it to my address. He requested me to tall my card number and other particulars to HSBC person for verification purpose. I refused to tell because I was not aware whether the call is from HSBC or not.
To my surprise, I found that my card account was debited with the monthly premium of Rs. 500+. I refused to pay the amount to HSBC and protested the entry. HSBC in turn asked me to give it in writing, which I did promptly. Lateron, my HSBC card got deducted with the insurance premia everymonth, but I did not receive any policy from TATA AIG.
Suddenly, during Feb 2007, once again customer support executive from TATA AIG called me and asked me whether I am satisfed with the policy, which I did not even receive. I told him the fact and I also reiterated that I will not accept any policy on oral assurance and without going through the terms and conditions of the policy, I will not subcribe to it.
During March 2007, I was delivered with a DUPLICATE policy. I immediately contacted the call centre and I was told that I accepted the policy and the voice recording is there as an evidence. My request to them to send the details of the policy was not recorded whereas the executives reply that he will send the papers to me, is it ok? and my reply Yes was only recorded and the initial enquiry regarding my HSBC Card details were recorded.
I got wild by the cheap tactics of the company, I immediately wrote a complaint to the company stating that they have deducted my card account without any proper mandate and they have issued an insurance policy without proper documentation. They called up immeidately and tried to pacify me that the new government regulation permits them to do so. I told them, being a banker, I know the present rules and regulations. He started threatening me that he has all the evidence (the tricky partial conversation, which the insurance company has recorded earlier) against me and with my due consent only he sent me the policy. He tried to threaten me that I have to pay atleast 40% of the total premium amount to get my policy cancelled. It comes around Rs.2500/-. I replied them let us meet at the appropriate forum. As the matter does not seems to get resolved, I preferred a complaint with IRDA, Hyderabad for redressal.
The insurance company did not take any step to redress my complaint, rather my HSBC card account was being deducted witht he monthly instalments continuously. But, thanks to IRDA for prompt action, they acknowledged my complaint and forwarded to me a copy of their forwarding letter to insurance company and asked me to wait till they receive a reply from them.
Atlast, during May 2007, with the intervention of the IRDA my entire Card Debits raised by the TATA AIG Company got reversed, and now I am asking HSBC to reverse the extra charges like late payment fee, interest on unpaid debits etc.
So, friends, to safeguard your interests, my humble request PLEASE, PLEASE do not entertain any phone calls and accept any offer, be it from a reputed company like TATAs. You will have to run from pillar to post to avoid losing your hard earned money.
