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TATA AIG / How HSBC and Tata AIG cheat people

1 India Review updated:
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Recently I've got a really bad experience from Tata AIG... I hold a credit card of HSBC, one day I got a call from HSBC person giving an information about this health care insurance from TATA AIG, it was supposed to be different than mediclaim and bla bla bla... I declined the offer from HSBC, however the guy on phone played the first trick, he told me that they will send me information papers about the policies and then I can decide whether to take the policy or not within 14 days of receiving the papers... I made a mistake by saying OK to send the papers, then the call was transferred to TATA AIG executive, who got the necessary information from me...

During this call with TATA AIG, I realized that I've been trapped by this trick and now actually I was availing the policy... At that time what I thought was, let's take the policy (something like which I anyway needed) and go through the documents and as the HSBC guy told me, I can anyway cancel it in 14 days...

At the end of the conversation with TATA AIG (by the way, all this conversation was being recorded for confirmation), the executive told me that only changing the policy level could be done in 14 days without any charges and if I wanted to cancel the policy then I will have to pay Rs.99 per person (I was going for myself, my father and my mother)... here I realized that I was being cheated in daylight!!! but I could not do anything at that moment...

I decided that when the papers arrive, I will cancel the 3 policies and pay Rs.297... so I called the TATA AIG helpline numbers to cancel this... And here came the big blow... now the TATA AIG executive told me that there was no clause at all which said about the Rs.99 per person charges for cancellation, on the contrary I will be charged 25% of the annual premium amount (which worked out to be about Rs.2200)...

When I told him to refer the recorded earlier conversation, he held the call for 2 minutes and came up with a typical cheater's statement "There is no mention of Rs.99 per person for cancellation"...

I am feeling really disgusted "How can I be made so fool"... but in reality, these companies are not fooling... they are "CHEATING"...

So please spread the word and do not fall into such traps.

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  • Kt
      16th of Sep, 2008
    0 Votes

    i got married on 23-11-2006.after marriage i had applied for a change of nominee from my mothers name to my wifes has not yet been implemented.i have taken a pension plan of tata aig.

  • Ni
      21st of Oct, 2008
    0 Votes

    You are right same happened with me also. I can't understand why HSBC is spoiling it's image by partnering in this fraud.

  • Ou
      30th of Jun, 2009
    0 Votes

    my self ounahmed dangra i was employee of tata aig life surat...they have recruited me as manager...i gave my 100% in company but they had not provided me any kind of induction or training to treat the customer or wt kind of product they have...they told me that jst go in market sell this policies by ur after completing 1 month i had resigned from the company they are saying that they will deduct my salary as per law...and i have to wait 2 more month to recieve this adjusted i want to know which HR takes and which process tekes 2 months to generates the point is that give my adjusted salary after deducting ur charges but by this month friends u r right they are not making fool...they are CHEATING...

  • Rk
      18th of Nov, 2009
    0 Votes

    The same happened with me. These TATA AIG guys called me and told me as this is a scheme only for HSBC credit card holder. I denied instantly but he told me that you read the document first and then decide to continue or not. Latter when i read the document i tried to cancel it but could'nt cancel. The money was credited from my HSBC credit card and now i am regreting. So dont fall under such traps.

  • Xp
      30th of Nov, 2009
    0 Votes

    I got a similar Tata Aig-HSBC policy which was over on Dec'08. Since then TataAig agents have been calling me from Chennai/Mumbai/Blore locations repeatedly (almost once every day) and disturbing like anything. They made my life hell.
    I have told them that I am not interested in increasing the duration of the policy or taking a new one but who listens.
    They mostly call me from 2267691800 and 2267691900.
    Can any body tell me what legal action I can take to save my ###?
    - Sourav.

  • Pu
      26th of Mar, 2010
    0 Votes

    It has happened with me also. Really frustrated that TATA AIG is doing like this.

  • Ga
      24th of Jun, 2010
    0 Votes

    I just received a similar call and even i showed intrest as it was just a matter of Rs99, i am happy that i did not pay.

    I feel sorry for the author of this article, but in many ways he would be helping other guys!

  • Ka
      7th of Dec, 2010
    0 Votes

    I was offered a life insurance policy through HSBC credit card.i opted for it and gave the verbal acceptance to auto debit the premium from my credit card.
    recently i broke up the relationship with HSBC so i called up to discontinue the policy from Tata AIG but they suggest me that i can pay the premium through any other credit card so i gave them the details of my other credit card from CITI this process to my surprise i came to know that TATA AIG is charging me for a policy which i never took from them as it was for Some Mr. Vasoya and premium was going from my credit card. i did not notice that because Tata AIG offered me another polict in addition to my base policy, so i thought that payment was for the additional policy.but acctually the payment done till date of Rs:104610 was for some Mr. Vasoya which is unknown for me.
    i have logged a complain and the complain number is :6418423 and the disputed policy number is :BTM10000001671., premium was paid on monthaly basis from Sept 2008.
    Now i want the amount and intrest paid for the amount as it was a case of 420 with me.
    please suggest and let me know the legal steps.
    thanks and regards
    Kapil Malik

  • Al
      3rd of Feb, 2011
    0 Votes

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