I had taken a Home Loan Suraksha policy from HDFC ERGO General Insurance Company Ltd. bearing. This was sold to me, when I was availing of a home loan from HDFC Ltd., by
just mentioning mere facts that this policy will protect and ensure my loan repayment against 5 clauses which included loss of job. Not much details was provided, stating that I would get a call from the Insurance company explaining all details.
However no such call was received by me. Then I started following up with the insurance company for the policy documents, which I only got after almost 10 months of availing the policy( Kindly note that the free look period was over by this time…).
Now when I’m going through a difficult situation due to loss of my job and went back to the insurance company asking for claim , against the Loss of Job clause in the same policy…
They have refused to honour my claim citing all vague reasons and asking for various documents . The claim amount as stated in the policy for this particular clause is for 3 EMI’s only ( which is much lesser than the policy premium value). Also the policy document which I have received doesn’t say anything, about the various reasonings which they are now quoting so as to refuse the claim (kindly make a note of this point also)
Now, I’m in an extremely grave situation and have been running from pillar to post within HDFC ERGO General Insurance company Ltd, but haven’t got any help.
Therefore, my questions are:
1. Has anybody else faced a similar situation. If they have how was this resolved
2. Should I file a consumer court case against the company
3. Or Should I just quitely surrender the policy and take the surrender value that the company gives me…
Please advise.