Insurance
Active
Complaint #8116 — Deepa Gehani
Filed: 29 Oct 2014 ·
Address: BK No 95, Room No 30, Section 22, Near Sindhu Youth Circle, Ulhasnagar 421003.
HDFC SL ProGrowth Flexi insurance plan (Purchase date 18th Dec, 2013)
Below are the complaint points:
1- I have been told that premium paying term is 5 years but actually it is 10 years
2 - Also, I have been told that at maturity, I will be getting 3 lakhs or NAV value, whichever will be higher. But, in actual, I will be getting NAV value
From above statements I was misled by HDFC personnel (during confirmation call too) that after paying Rs. 1.5 lakhs (30,000 yearly) during 5 years of premium paying term, I will be getting NAV value or Rs. 3 lakhs whichever is higher.
But in actual,
1. I need to pay Rs. 3 lakhs for 10 years, which is double the amount I have been told.
2. And I won\'t be getting at maturity at least Rs. 3 lakhs. I will only get NAV value, which may be less than Rs. 3 lakhs.
As per reply from HDFC, I should surrender the policy after 5 years.
Hence, I would like to cancel the contract & want my paid premium back (Rs 30,000) along with interest.