In the larger interest of public

From 2010 to 2014, how many such health insurance policy were sold by a bank all over the country, you people can better understand.

Health insurance bundling with mortgage loan makes no sense except that bank was exploiting the customers. Life insurance is still reasonable. You can file RTI to IRDA and with the reply you receive ask for an explanation from concerned branch as to why you were misled. If satisfied with the reply them fine else notify the bank of not willing to continue the premiums next year onwards and if bank still force you complain to ombudsman. Assignment of health insurance of ANY type is prohibited.

@Siddhartha sinha.......thanks for your reply, I,myself, am already handling case in consumer court at the stage of opposition eveidence submission. Main applicant of loan has died & burden of loan on the shoulders of dependents. The premium which was taken was enough to secure whole loan amount through TERM INSURANCE POLICY( as mentioned in ombudsman,mumbai order) but through health policy only 20% of loan was covered & 80% loan left unsecured, moreover the same policy was sold after ombudsman, mumbai order..(enclosing here).

In medical negligence cases, negligence happens in treatment of patient but without having any vested interest but in this case bank & its group insurance company sold such policy with vested interest.