My Bad Experience of having HDFC, “Sur Utha ke Jio policy”
A policy No-13732546 was purchased from HDFC at the annual premium of Rs25 lakhs in 2010 on the name of my wife. We were told that the policy will meet our specific requirement of getting us handsome amount of monthly pension after 3-4 years considering our age.
We have till date paid 3 installments and to our surprise, it is found that after about 2 years our capital is reducing considerably while HDFC has made handsome profits of more than 13 lakhs. This is mainly because of their heavy Administrative charges of 0.95% per month in addition to FMC charges of 0.80%.
Further we came to know that we cannot Exit from the policy for 5 years without losing further capital. I took up the issue with seniors Management of HDFC in Nov12. They nominated a officers to resolve the issue but to our surprise response was, you should have gone through the policy details before 0pting for the policy in good faith. Now they have stopped replying to my mails. I am a preferred customer of HDFC for about 8 years even than it has happened with me.
This note is being circulated to warn other customers to be careful while opting for HDFC policy/ policies. Their advertisement of “Sur utha ke Jio” should be changed to “Sur Juka ke Jio” at least for us.
HP Bhalla
Email Id: bhallahp6@gmail.com