[Resolved]  HDFC Bank Standard Life — Improper information while selling products

Good day Sirs,

Please note that the HDFC Standard life sold me this ULIP linked double benefit policy Youngster plus for a premium of RS 500, 000 /year for 20 years. While selling the policy i was told that the HDFC would take care of funds by switching funds when the market was down from equity to other funds, also that from the 2nd year i neednt pay the premium of 500, 000 but anything form 10000 to 500, 000 but my life insurance remaining the same ie 50, 00, 000. They have taken a charge of 30% upfront + other charges for ding nothing but making a poilcy. They did not even bother to check after they sold the policy. I am fully aware that the ULIP linked investments are risky, but product should not be sold on lies & false information. At present i have not revived my policy because i felt cheated. i have made one payment of RS 250, 000 out of which about 175, 000 was actually invested. The idea is to bring to your notice how a common man is cheated. Please do the needful