Last year one agent approched me with a HDFC Standard Insurance plan telling that the amount will be doubled in 3 years with 3 years annual premium.
e.g 1st year premium Rs1.0 lakh, 2nd year premium 1.0 lakh, 3rd year premium 1.0 lakh(No more premiums) and it will become double in 3 years i .e 6lakhs
I asked how?, he told me by investing in stock market, then I told I don’t want invest in stock market, then he told me, option is available to invest in bonds but it will be doubled in 5 years. Then he repeatedly convinced me & one day he came with a manager rank HDFC employee(as I was not ready to hand over the cheque to an agent) They repeated the same story and booked me. Based on reputation of HDFC, I have invested in bonds through HDFC Standard.
After some time I have recieved reciepts, policy book etc. I have registered & opened my online account, seen the details(after about 6 months) I got shocked to see my 1.25 lakh investment(1st premium) became Rs 68000.00, I had worried & could not sleep that night.
I contacted the agent(Ganesh, Visakhapatnam), you promised me double in 5 years but it became half, that means the amount will become double in 16 - 20 years. Then that person was telling, he met with an accident and after recovery he will meet me and explain. By that time I had realized that I was fully cheated by HDFC Standard.
Luckily I had dared & switched it to share market, some improvement is seen and loss is reduced from 50% to 20%, but with a risk, such as if stock market falls, the loss may go up to 80%.
Now when ever such calls come to me, I will be irritated and almost I am shouting not to call again. I am irritated with word HDFC/their employees/agents.
I want complain to statutory authorities but I don, t have any proofs e.g audio or video or written. But insteat of my irritation, I may have to conduct a sting operation?.
DREADLIEST CHEATING I HAD EVER FACED IN MY LIFE.
MY MAIN AIM IS TO WRITE HERE IS THAT OTHERS SHOULD NOT BE CHEATED, IF SOME BODY KNOWINGLY TAKES A POLICY LIKE THIS, IT IS UPTO HIM.