HDFC ARGO Health Insurance fleecing Senior Citizens & delay in refund of premium charged

It has become the trend of most big service companies to fleece and keep the customers' money blocked for days and months and earn interest on that by delaying the refund indefinitely. I applied with HDFC ERGO health insurance for myself and wife. I deposited the required premium of About Rs.48000/- through my credit card. After the medical test, they rejected our case due to a flimsy ground that there was some problem with my ECG and informed to return the premium amount within a week. But it took more than 2 months to receive the amount back into my credit card account and that too after several reminders.

After 3-4 months again, I got a call from one agent of HDFC ARGO to apply again as the issue with my ECG report was not of much concern. I did the same and this time I paid the amount through cheque from my savings account for approx.Rs.48000. The medical was conducted and again the case was rejected on the same ground. Although, I got my health check up also done at Fortis Escorts and they confirmed the problem with ECG as insignificant and also confirmed that as per stress ECO test done further, I had fairly healthy heart. But the refund of amount charged for premium again is taking the same coarse. It is over two months and the there is no sign of refund of almost Rs.48000.00 in spite of reminders and assurances. more  

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All these institutions and companies dare to cheat common man because of our law enforcing agencies failure to ensure strict compliance of the rules by all concerned with infliction of heavy penalties on the defaulters coupled with undue delay in dealing with law suits in our judiciaries. more  
Insurance is just one type of assurances and cheating to the maximum. Please do not be swayed away by their assurances. more  
Though IRDA is in place, the ratio of its addressing the issues of the customers is less than 2%. Both Ministries which look after the insurance and consumer protection must take this and other issues and sort out within 30 days of the complaint lodged.

Percentage of our population taking medical insurance coverage is very insignificant due to lack of knowledge and the cost of premium cost. For the premium cost to come down, everyone needs to be covered and linked to hospitals which raise the claim with the insurance companies. In turn insurance companies must settle such claims within 30 days which is currently not happening. So it is vicious circle and hence this insurance does not become successful. more  
They are very polite and sincere till you part with your money. After that, they don't give a damn to your requests and representations. Perhaps, this is the way with all investment companies. more  
I too had a terrible experience with this company 3-4 years back. I hate them. As soon as I spot their name in my mail box I immeditely delete the mail withoit giving it a second look. Less said the better and yetbthe HDFC Bank is doing very well more  
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