I am writing to you after I failed to get a satisfactory reply from HDFCSLI through sevices@hdfcinsurance.com. I have the SLI Policy No. 11768291 in my name ‘Niranjan Chandra Bakshi’. Commencement date is 29 Mar 2008. Direct debit mandate was signed for premium payment.

I received a mail on 24 Mar 09 from services@hdfcinsurance.com ” This is to inform you that your premium of Rs. 30000 for HDFCSL policy 11768291 is due on 29-MAR-2009.” That being the first premium after the policy was taken, I went to HDFC bank located at Santoshpur, Kolkata – 75, where I had my bank account. One lady officer checked my entire policy documents and said that as I opted for direct debit, bank will automatically pay the premium as because sufficient fund was available.
On 16 April 2009 I received an email that my policy No 11768291 lapsed. I was advised to contact the customer service officer or the nearest HDFC branch for revival. customer service officer told me that as I did not respond to a Direct Debit Mis-match letter, which was mailed to me on 17/04/2008, the policy No11768291 lapsed. He advised me to pay a fine of Rs 250 and pay premium in any HDFC Bank. That news of lapsing was followed by a letter No 122537 dt 15 April 2009 which I received much later.
I did not receive the above letter and HDFC could not provide any proof that the letter was delivered to me hence I could not be blamed for the flaw. There were much more communication and finally my policy was revived on 25 May 2009 with out any fine.
While viewing on net through “My Account” on 02 July 10, I compared the growth ratio along with the policy No. 11765839 of my wife ‘Rita Bakshi’ and found that both these policies did not grow in similar ratio. HDFC says it is due to lapsaton.

1) My representation to you as to how HDFC can blame me for the lapse and apply all the effects of lapsation on to me. Is it not carelessness on the part of some staff of HDFC because it did not follow up or remind me even once when the signature mis-match action did not reach back to them even after 11 months of their so called letter. As I have opted for direct debit, how on the earth I would come to know about this miss-match? If HDFC could send me reminder-sms for premium, why could not it remind me of signature mis-match? Who is to be blame for it? All these things were discussed at length and the premium was accepted by HDFC with out penalty. Then why other things had not been regularized? Now I find that I have been covertly penalized heavily because the policy has grown only to Rs 83539.14 as on 25 Jun 10 instead of Rs 105282.75.
Please convince me how could I be blamed for premium non-payment?
LT Col NC Bakshi(Retd)