[Resolved]  HDFC Bank Standard Life - Ulip Suvidha Plus — miss selling of the product by HDFC bank

This is to inform you that I have taken out the UL Suvidha Plus policy on Feb22, 2008 from HDFC Bank, Kalkaji Branch (cc31), New Delhi . The sellers name was Ms. Neeraj Chanda. At the time of the application for the policy (Feb 22, 2008), I was informed categorically that the plan was a FLEXIBLE Premium Plan and we could submit a reduced premium in the 2 nd and 3 rd year (minimum Rs. 10, 000). However, when I tried to apply for a reduced premium on Feb, 2009, we were told at the cash counter of HDFC SL office ( Nehru Place, New Delhi ), that this provision in the policy has been changed in Jan 2008 (before I applied for the policy) and that I could not reduce our premium. This utter disregard for customer’s faith and value from a premium banking institution like HDFC has totally derailed our TAX Planning. Taking into account the egregious misrepresentation on the part of the HDFC bank employee (seller) on the basic principles of this policy, I wished to withdraw my policy and get a refund of the entire premiums . But they did not allow me to do that by saying I will lose about 80% of our deposits. I dont want to continue in this plan. please help me to get my money back. Thank you in advance,
Surajit Ganguly