Follow us
Log in        Register
     
 

HDFC Standard Life Insurance - The fund value is way less than the investment,let alone any earnings

 
1 Review
User
  Partha Pratim Nandy
Please find the trail of mail starting from 17th March 2010 backwards.

Dear Sir/Madam,

I have invested in HDFC standard life insurance with policy no 10434423 from 2nd Dec 2005 with an amount of Rs 1 lakh per annum.

It means that I have already invested more than Rs 5 lakh in the policy.

The recent statement of policy shows the value of the policy as Rs 2.93 lakh.

It means that I have already lost Rs 2.1 lakh on my investement,forget any earning.

I have been coaxed by your designated investment agent Mr Ravi,who is not at all bothered to suggest me any fund switch to increase the fund value, nor contact me about the growth of the fund.

Nor HDFC life is giving any input on the same.

Further as per dedcution HDFC life is gaining around Rs 9600 per lah of my investement per year.

My question is who is responsible for this and why I will drag this policy when I am sure that I will be at loss.

I expect your specific reply (nor generic or evasive) which will allow me NOT to drain down my hard earned investment.

Treat the matter as URGENT and reply ASAP.


Partha Nandy





--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Thursday, May 28, 2009 11:12 AM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423



Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that we have attached the soft copy of the calculation. Please find the attachment.



We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Femina Mithran
Customer Service Officer
***************************************************************************************************************************

For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on 1800-228-228 or 1800-209-7777 (Any phone)

Send us a call back request through SMS - sms SERVICE to 5676727

E-mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
***************************************************************************************************************************



Service/RetOps/HUB/HDFCInsurance
05/25/2009 06:17 PM
To "P P Nandy" <pp.nandy@secon.in>
cc
Subject HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423Link






Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that we have forwarded your request to the team concerned. Hence, we request you to allow us sometime. We will revert to you shortly.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Femina Mithran
Customer Service Officer
***************************************************************************************************************************

For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on 1800-228-228 or 1800-209-7777 (Any phone)

Send us a call back request through SMS - sms SERVICE to 5676727

E-mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
***************************************************************************************************************************



"P P Nandy" <pp.nandy@secon.in>
05/25/2009 04:29 PM
To <service@hdfcinsurance.com>
cc
Subject FW: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423







Dear Madam,

I am utterly disappointed with the evasive reply for calculation of mortality rates.

As a customer it is my right to get ALL the information I have sought for.

Without giving any generic comment, give specifically what has been asked for.

Other insurance firms give specific calculation in tabular form.

I am NOT convinced about the belated reply from HDFC and spcifically asking for CALCULATION of fees towards mortality decucted from my fund value.

Hope to receive the reply as asked soon.

Partha Nandy




--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Monday, May 25, 2009 3:23 PM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423


Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that the formula to be used for calculation of Mortality & Other Risk Benefit Charges is as under.

[Rate/1000 * (Sum Assured + Present Value of the Future premiums payable in case of a claim)]/12

The present value of the future premiums payable is a variable factor that changes every month. Between 2 premium payments this amount would keep increasing, as we get closer to the premium anniversary. This is due to the effect of discounting - the lower the discounting period, higher is the resulting value. At every premium anniversary, after the premium has been paid, this value would decrease and then keep increasing till the next premium anniversary date.

We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Femina Mithran
Customer Service Officer
***************************************************************************************************************************

For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on 1800-228-228 or 1800-209-7777 (Any phone)

Send us a call back request through SMS - sms SERVICE to 5676727

E-mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
***************************************************************************************************************************


"P P Nandy" <pp.nandy@secon.in>
05/22/2009 12:34 PM

To <service@hdfcinsurance.com>
cc
Subject FW: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423









Dear Mr Kumar,

Please give the conclusive reply.

I have asked for the calculation.

Please provide the same at the earliest.

Partha Nandy


--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Friday, May 22, 2009 12:02 PM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423


Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that mortality charge varies every month as
it purely depends on the age of the policy holder and the sum at risk.

We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Rajesh Kumar
Customer Service Officer
***************************************************************************************************************************

For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on 1800-228-228 or 1800-209-7777 (Any phone)

Send us a call back request through SMS - sms SERVICE to 5676727

E-mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
***************************************************************************************************************************

"P P Nandy" <pp.nandy@secon.in>
05/20/2009 12:20 PM

To <service@hdfcinsurance.com>
cc
Subject FW: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423











Dear Madam,

I have received the break-up of policy fee, service charge and mortality fees etc.

Why the mortality fees is varying in EVERY month?

Please provide me the calculation.

Thanks,

Partha Nandy




--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Tuesday, May 19, 2009 1:03 PM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423


Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your e-mail, we would like to inform you that we have mentioned below the charge details for the aforesaid policy.



We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Prahalathan
Customer Service Officer
***************************************************************************************************************************

For any further queries or clarifications, please contact us through any of the following modes:

Call us toll free on 1800-228-228 (BSNL/MTNL) or 1800-209-7777(Any phone)

Send us a call back request through SMS - service to 5676727.

Mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
***************************************************************************************************************************
"P P Nandy" <pp.nandy@secon.in>
05/14/2009 04:44 PM

To <service@hdfcinsurance.com>
cc
Subject FW: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423













Dear Madam,

Please separate out:
1. Mortality Charge;
2. Policy Fee;
3. Service Tax;
4. Education Cess.
Since these are clubbed in the statement.

Thanks,

Partha Nandy


--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Thursday, May 14, 2009 3:34 PM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423


Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regards to your email, we would like to inform you that we have sent the softcopy of the unit statement for your policy no. 10434423 to your email id pp.nandy@secon.in registered with us. Kindly request you to check the same.

Further you could view the details pertaining to the units allocated and the fund value though the unit statement.

Please find attached the soft copy of the latest unit statement for your convenience.



We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Archana.G
Customer Service Officer
***************************************************************************************************************************
For any queries contact us in any of the following ways:

Call us toll free on 1800-228-228 (BSNL/MTNL) or 1800-209-7777(Any phone)

Send us a call back request through SMS - service to 5676727.

Mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
*************************************************************************************************************************** "P P Nandy" <pp.nandy@secon.in>
11/05/2009 03:11 PM

To <service@hdfcinsurance.com>
cc
Subject FW: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423
















Dear Mr. Hariharan,

No, you have not addressed my query.

I have asked for fund history of my policy i.e from inception till date, how it is working.

Attached file is taken from web portal dated 1st May which is mentioning fund history for 2008-2009 (from June 2008).

I want complete history of my fund i.e from 2nd Dec 2005,including deductions made,number of units accrued etc.

Request forward the detail ASAP.

Thanks,

Partha Nandy


--------------------------------------------------------------------------------
From: Service [mailto:service@hdfcinsurance.com]
Sent: Monday, May 11, 2009 12:37 PM
To: P P Nandy
Subject: HDFC Standard Life Insurance Co. Ltd. Policy No. 10434423


Dear Mr. Nandy,

Greetings from HDFC Standard Life Insurance Co. Ltd!

With regard to your email, kindly follow the steps mentioned below to view Net Asset Value (NAV) details online.
Login to www.hdfcinsurance.com
Click on Unit Price, you will be able to view current NAV of the Unit.
Click on Historical Unit Price, to view The NAV of an earlier date.

We hope to have addressed your query.

Please write to us for any further clarifications you may require.

We assure you the best of our services always.

Warm regards,

Hariharan.J
Customer Service Officer
***************************************************************************************************************************
For any queries contact us in any of the following ways:

Call us toll free on 1800-228-228 (BSNL/MTNL) or 1800-209-7777(Any phone)

Send us a call back request through SMS - service to 5676727.

Mail us at service@hdfcinsurance.com or you may also visit our website www.hdfcinsurance.com
*************************************************************************************************************************** "P P Nandy" <pp.nandy@secon.in>
05/08/2009 04:05 PM

To <service@hdfcinsurance.com>
cc
Subject Policy no 10434423-Partha Pratim Nandy-HDFC Unit Linked Young Master Plan

















Dear Sir,

In the HDFC Life Insurance Web Portal, I can see the latest fund statement.

However I would like to see the fund history for my record.

Kindly advise me, how I can see the fund history from Plan Start Date:2-12-2005 till date.

Thanks,

Partha Nandy
Complaint comments 0 Comments
Resolve this Complaint  

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    Your Rating (1 star is bad, 5 stars is good) No Rating
    code
    HDFC Standard Life Insurance - The fund value is way less than the investment,let alone any earnings