An insurance agent fetches your personal details from your credit card company and calls you to market his health insurance company’s offerings. The deal does not interest you, so you decline to subscribe. You thought it was all over here with this one telephonic conversation. But in a few days the Insurance company calls you, informing that they have charged your credit card company a yearly premium and have mailed you the required documents. And there starts yet another struggle to retrieve your hard earned money that this Insurance company and your credit offering company have ripped off from you…
This is exactly what happened to my Dad and probably to many others. My dad has a GE Cash Card, Royal Sundaram is affiliated to. He declined subscribing to any health policy offered by Royal Sundaram. But the agent went ahead and issued it while also charging my Dad’s GE Cash Card. GE also proceeded with it without confirming of whether there has been any written consent from our side. According to GE and Royal Sundaram, they do not require processing of any documents for such a purchase and the whole process is completed over phone. They proudly call this fatuous idea…”Tele Marketting”! Since then we had been paying the interest to GE towards an amount of 4.8k which was the yearly premium charged by Royal Sundaram. And in no way both parties were ready to refund the money. (more…)
