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HDFC Bank Insurance Policy

[Resolved]  HDFC Bank Insurance Policy — misleaded

Address: Delhi

I(Abhishek Bisht) have a Hdfc policy[protected] have competed 5years with the policy in March 2013 as per the terms in order to surrender my policy but when I went to the branch in order to surrender my policy I was informed that its a market based policy so I can stop paying the premium & leave it like this once the value will get increase I can then surrender it & since I've completed the maturity time of 5years so even if I wont pay further that will not effect the benefits of my policy therefore under that impression I did not take out the funds even after completing 5years & stopped paying premiums & now when I need money I m not able to take out my funds because it has been decreased a lot it was supposed to be 1lac 83thousand but has gone down to 1lac 48thousand as if now & when I spoke to customer services they are not willing to help @ all wherein I was assured that my fund value will remain same otherwise I would have taken out the funds in March 2013 only. I m very disappointed with the fact they treated me. I just wanted to know that now when I am aware that its a market based policy(which was not informed to me while taking out the policy but still ready to accept the fact) will my funds get increased if the market value will increase in future or should I take out my money but I m getting nowhere since nobody is willing to guide me. I m stuck with this policy now. Kindly have a look & please guide me further.

Thanking you
Abhishek Bisht
[protected]
[protected]
Email add: [protected]@yahoo.co.in
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Aug 14, 2020
Complaint marked as Resolved 
 
2 Comments

Comments

HDFC Insurance Policy — Mis-sale of the policy no -12278443

My name is Nitu Kumari.Iam working with a BPO.I took one tax saving ULIP plan from HDFC Bank last year.This policy is of Rs80, 000, while taking this policy HDFC agent didn't told me about adminstrative fee of 30pct on 1st and 2nd yr and 1pct on 3yr moreover agent advised me that i've to pay only 10, 000 next year onwards while is no where written in policy documents and the documents terms is so technical that no body can understand.

Now iam running behind HDFC Bank but they are not downgrading it and more over they are saying that i 've to penalty if I downgrade it and cancel it.

Why it is so when they didn't take care of my policy and when i am keeping eyr on market and switching my funds on daily basis then when they would charge penalty.If they would have been taken care of policy i would not be in such a big loss.
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You are not alone - I have also been cheated and there has been policy missale, cheating. The guy who sold has left their organisation instead of pension policy I have been given Endowment policy which I came to know only after paying 10 months premium

I have lost Rs. 27, 000/- on two policies which I did not want.

One has to be very careful while dealing with HDFC - they smooth talk and make us take policies but they do not tell the risks attached only show rosy picture of benefits.

Then when one complaint's they show some legal language which a layman does not understand and tell us we will not be refunded our premium paid.
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    Contact Information

    HDFC Bank Insurance Policy
    Delhi
    India
    9910366599
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