I cannot agree more with the other posting as I am a victim of HSBC here. I was a proud HSBC premier customer for 13 years and finally they cheated me systematically now I am paying the premium through my nose.
following is the modus operandi,
1) identify a customer that trusts the relationship manager and signs where ever he asks and follows banks instructions.
2) Sale couple of policies and build the trust further
3) finally sale a secure smart policy saying that its only for 3 years policy and you can surrender after 3-4 years.
4) customer starts paying policy premium and realizes after 3rd years that he has to pay for next 10 years.
what a catch
now if you want to surrender policy after 4 years.
you will get
30% of total premium paid - first premium
so if you premium is 100 Rs in 4 years you pay 400 Rs and in case you surrender, bank will return ONLY Rs 20 . LOL in my opinion government should ban HSBC and HSBC Canara from Insurance business.
NOTE: I am not from a rival company employee. I am a Insurance SCAM Victim if needed you can reach me for more clarification. I am also planing to start a awareness campaign against these guys.
HSBC Guys called to know if I have posted this on MS. They are investigating this further.
167 reads in 10 days! Friends, I am planing to lunch a website insurancescam.in in sometime. where we will be able to share our insurance pains and hope that, it would help readers to be careful while getting cheated by banks in the name of Investment.
Thanks
Samir
-
- Thank You! We appreciate your effort.