[Resolved]  HDFC Bank Standard Life Insurance — High deduction from premium

Sir, I had taken Unit linked Pension II Policy from HDFC Standard Life effective 22.10.2008.

When I received the yearly statement dated 23.10.2009, I was surprised to find that only 60% of the premium was invested in units. The deduction of 40% was not mentioned in the policy. The agent also did not explain to me the deduction.

I had written to the Company, who justified the deduction and directed me to the Insurance Ombudsman, who in turn reverted that the complaint is outside their jurisdiction.

I request you to look into my complaint and pass a fair judgement.

Thanking you,

Yours faithfully,
R S Swaminathan
311, Raj Tara A,
Green Road, Louis Wadi,
Thane (West)- 400 604.