Bajaj Housing Finance Limited - Cancellation of Insurance and Refund the Fees

MaxLife Insurance Policy No: ********
BHFL (Bajaj Housing Finance Ltd) Loan A/C: H***HLP*******

I was given two options by BHFL Sales team while processing the loan-
*. To pay *.*% - *% of PF and ignore taking the insurance.
*. Not to pay *% PF but pay the premium and take insurance coverage for self & loan amount.

The same above info is being recorded on call from the BHFL Sale Manager.

As they suggested me to secure the property and self by Insurance coverage, I had shown interest to pay the fees and take policy.

Further, as I was not happy with the insurance terms when the policy was issued, I requested the Insurer to cancel the policy and refund the premium as per the terms mentioned below.

*) As per the info mentioned in the attached Insurance document (Page No- *, Paragraph Heading: Free Look Cancellations), it is clearly mentioned by the insurer that the policyholder has all the rights for cancelling the policy if unhappy with the terms of the policy.
Note: Password to open the insurance file is "anih****".
- I received this doc in my email on **th Jan. Then I reported to both Insurer (Max Life Insurance) and Intermediary (Bajaj Housing Finance) on **rd only requesting them to cancel the policy as I am not happy with the terms mentioned in the policy document.
*) As per the info mentioned in the attached loan sanction letter (Page No-*, Point No-*), it is clearly mentioned that Insurance is an optional and the subject matter of solicitation.
- BHFL team always promised me that taking insurance policy is just an option and can be decided by the customer and can opt for the cancellation of the policy if I am not happy with the terms of insurance after reviewing when the doc is received from the Insurer. Also, along with this, just to get their business, they gave me many other false commitments and promises which all are being recorded on call and WhatsApp interactions and I can share all these during the next level discussions.
Also, they nowhere mentioned in any document I signed that the policy cannot be cancelled once it is issued or the premium cannot be reversed or refunded.

Therefore, the insurer has cancelled my policy and confirmed the same via email as well. However, they mentioned that the refund of INR **,***/- has been processed which is only ~ **% of the total amount INR *,**,***/- that BHFL has collected from me.

Now, when I escalated it to BHFL, they have told multiple times even till today that the insurance cannot be cancelled at all, whereas it's been already cancelled and confirmed by the insurer also. Further, they claimed that they charged so much of amount not only towards the insurance but also provided many other benefits in the package which cannot be cancelled, however I was never being informed any such benefits by their sales team during loan processing time and I was also never interested in any such additional benefits and my motto of paying so much premium was only for Insurance coverage and I opted for the cancellation of the policy due to conflict of terms and the same is already being cancelled.
Now, BHFL is denying to refund my extra amount ~ INR *,**,***/- that was collected even though I insist that I do not want any such additional benefits whichever they are offering and which I do not even know yet and also not interested to know anymore.

I have been chasing the BHFL for last * months in this regards and wasted all my valuable time and this caused me a huge mental and physical stress due to which I could not even focus on my regular works and also it lead to mental harassments.
Hence, I request you to please penalize them by compensating with an additional amount of at least INR *,**,***/- for the deficiency of their service and making fraudulent & trapping the customer by giving so many false promises just to run their business by collecting such huge fees and also for being responsible to all the losses occurred to me till date from past * months.

Kindly assist me to get this issue resolved and save my consumer rights.