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HDFC Life Insurance

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HDFC Life Insurance

gajanan M@GAJANAN86

Mar 14, 2014 08:25 PM, 51571 Views

HDFC SL PROGROWTH SUPER will make you cry

This is the worst investment I had ever done.

While giving policy I had been told that this will give more than 10 percent value. No hidden charges.

Below are my observations -

I invested Rs.15000 and after one year the investment value is not even Rs.14000.

Every month hidden charges are Rs.68. Yearly Rs.817 which is around 5.5 percent of my investment.

So if I am paying yearly 5.5 percent of my investment which even will reduce the accumulative amount also.

When I bought the unit price was 13.05 and the current unit price is 13.47. So after almost year I had got profit of 3.2 percent.

Initial charges was Rs.600 which is again loss of 4 percent.

So overall Profit I got is point-

= 3.2 percent - 5.5percent - 4percent = -6.3percent

So imagine how much I will earn after 5 years. I can’t expect my investment money itself.

Very very bad experience!!

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Brand Response

HDFCLife

Dec 16, 2015 (Updated Dec 16, 2015)

Sir,With due respect to your review we would take this opportunity to highlight that the charges for Fund allocation, Fund management and Policy Administration charges are explicitly mentioned in the brochure. For your reference, kindly find a snapshot of the same attached. However, we understand your inhibitions and concerns as a customer. We at HDFC life work with the best fund managers and try to invest your money at the best of the companies. We also insist on explicit information dissemination and do not refrain from highlighting the risk involved in this plan as it is a market bound product and is affected by any change or sudden turn of events. We still feel that your feedback is necessary and we assure you that we will work towards bridging any miscommunication which has led to the occurrence of this issue. regards,HDFC Life