I took the HDFC life endowment plan in 2010. The agent said its a very good investment plan also showed me a sheet which never mentioned about management charges. When I tracked my investment I was shocked to know that 1% per month is being charged as management charges.1% per month is 12% per year which is simply ridiculous! I have paid a premium of 75 thousand Rs till now and current fund value is 70 thousand Rs
I complained to the Branch Manager (HDFC thakur village branch) , she simply said she cant do anything about it and the agent is not with HDFC life anymore.If I surrender the policy , I will have to pay 30% of my fund as surrender charges.
Just recently I again wrote to HDFC life asking as to when I can withdraw my money without paying any charges. Sent this via mail on 22nd Nov, 2012.
policy number 13674702.
date - 12th November , 2012
Was assured a response within 14 days
Customer Relations Representative- Mr. Kaushal Shah.
Till date (31st Jan, 2013) I haven’t received any response from HDFC life.HDFC LIFE SIMPLY DOESNT CARE ABOUT CUSTOMERS MONEY.CUSTOMER CARE WILL KEEP GIVING FAKE ASSURANCE !
IF ANYONE WANTS ANY PROOF OF ABOVE FACTS , HE /SHE MAY CONTACT ME .I WILL PROVIDE FULL DETAILS AND RECORDS OF MY POLICY WHICH SHOWS HOW I AM LOOSING MY MONEY.
mail id - chatterjee.abhijit85@gmail.com