HDFC Bank Savings Assurance Policy — deny of the deposited amount of Rs. 50000/- by the said company

Address:

Ranchi, Jharkhand

Dear Sir/Madam,

I would like to draw your kind attention that I have taken a policy under HDFC SAVINGS ASSURANCE POLICY, Date of Commencement : 2nd December 2008, Policy No. 12407929, Premium Rs.50,000/- Unique identification number 101N014V01.

At the time of taking policy it has been said that whenever I felt urgent need of money i will withdraw the policy without any problems. Sir at present I am not in a position to continue my policy and it has already been shared with HDFC but they are not giving any favourable answer.

Time and again I requested them and shared that i am not in a position to continue my said policy but it is unfortunate that i did'nt get any favourable response. Sir i have got a letter from HDFC which is as follow Kindly go through and guide me to how i will get my money back.

soliciting your kind cooperation.

Srinivasan

Dear Mr. Nivasan,

Greetings from HDFC Life!

With regard to your e-mail, we would like to inform you that a lapsed policy cannot be surrendered. The present status of the aforesaid policy has Lapsed due to the non payment of the premium due from 02/12/2009. We request you to revive the policy by paying the outstanding Premium Amount of Rs.176675.00. (it includes Total Outstanding Premiums Rs. 150000.00, Service Tax/Educ Cess Rs. 775.00, Reinstatement Fee Rs. 250.00 and Interest/Fund Amount Rs.25650.00.) at any of our nearest HDFC Life Branches. Kindly visit our website www.hdfclife.com for branch addresses all over India.

If the status of the policy is in lapse for more than one year, we would require an Identity Proof and Address Proof along with the outstanding amount to revive the policy

A Revival charges of Rs. 250/- will be collected by the deduction o[censored]nits from the policy fund. If the outstanding premium amount is paid online / ECS / SI then Rs. 250/- will be waived off.

We have generated the Revival Quote for the policy and the same is valid for the next 15 days from 14/03/2012.

Effects on Lapsation
Before 3 years of premium payments - No benefits, all cover ceases.

Surrender Value
After 3 years - Guaranteed Minimum Surrender Value = 50% of premiums paid subsequent to first year premium.

We hope to have addressed your query.

We assure you the best of our services always.

Warm Regards,

Krishna Mohan
Customer Service Officer.