I have a poor experience with HDFC standard life policy; issues are as follows.
They charge a good amount of money for fund management. Over last 3-4 years I saw fund values decreasing even when market (say sensex) is rising. I don’t know how they does the fund management!
I am disappointed with their communication gap with customers. My policy was terminated 2-3 times because of problem in money transaction form my bank account. Bank blames HDFC, HDFC blames bank and I am the loser.
They have 3 yrs of blocking period. Within this time you get nothing if you want to withdraw the policy. Also there are possibilities of market price fluctuations. So you have cons like fix deposits + possibilities of loss over this period.
Once I changed my mind to withdraw it (after blocking period), agents tried to convince me "this policy good for LONG TERM INVOLVEMENT". In my case I saw that , ’LONGER I CONTINUE MORE I LOSE’.
Before you proceed read terms carefully and inquire well enough, before you get biased with the wonderful acts of consultants. I learned it in hard ways.