[Resolved]  HDFC Bank ULIP — Misguidance and fraud

Address:

North West Delhi, Delhi

Hi,

I have purchased a ULIP policy number : 10947348 from HDFC standard life and have been misguided quiet a lot about same since starting. Details about same are given below:

1. At the time of purchase i was told if i invest money in my plan for 5 years ill get double return for my investment which is definitely a lie as after 3 years we found our policy undervalued by 14000 rs.
2. I decided to withdraw the entire investment and was told that i have to bear with it for next 1 year and within that year if market goes up ill get cover of my loss.
3. Market did well thought year and policy value remained same infact reduced by 2000 rs more.
4. When visited local office the representative told me that in case market rises upto 19000 then ill get atliest my entire investment back but today[protected] market rose till 19000 point the fund value is still undervalued by 11000 rs.
5. I filed many complaints in customer service but its of no use. Please guide.