HDFC Bank Standard Life Insurance Company Limited — Cheating In HDFC UNIT LINKED PENSION PLUS PLAN | |
I have taken Sir Utha Ke Jeyo plan policy no 11802169 marketed by such a reputed company called HDFC standard life Insurance company of renowned Industrialist and businessman Deepak Pareikh in approval with Insurance Regulatory Developement Authority. This plan HDFC UNIT LINKED PENSION PLUS PLAN has got some very interesting features for the benefit of the company at the cost of the customer which will never let any investor live ''SIR UTHA KAR''. Brief are as follows: 1. No Insurance of your life but the policy is being sold by a Life Insurance Company with approval of IRDA. 2. No Guarantee of your Principal Amount, only NAV of your units is payable in case of event. 3. Straight away 50% is deducted on account of Premium Allocation Rate which no investor understands at the time of taking policy. Only rest of 50% is invested in units at the prevailing NAV. 4. I have invested Rs.100, 000/- last year on 31/3/2008 and the present value of my units is only Rs.30000/-. Rs.70, 000/- gone straight away. 5. Insurance consultant Sudhanshu at that time posted with Saket Branch, New Delhi is not traceable, Mr Ganesh at call centre[protected] have no answer except to say that go to the branch office and lodge your complaint. 6. IRDA is not having any office in New Delhi except Mr. Bajaj who picks up the phone and advises you to write to Hydrabad office to senior officer. My questions are: How a Insurance company can offer Non Insurance Products? Why the name of 50% Expense Premium Allocation Rate is not kept Premium Allocation Charges? Why a wrong indicative application form got signed at the time of getting induced to buy a policy? Is is the fair business practice by such a reputed company? Why the Government of India has allowed taxation benefit u/s 80 to the taxpayers for investment in such products where there is no insurance, no social security, no national development? Isn't it for providing indirect benefit to these companies? Please advise can I do anything? Would anybody like to join me in this matter if he has got same grievances. Diwakar Vaish [protected] Was this information helpful? | |
 59 Comments | |
Comments
Yes, HDFC Standard Life Insurance Company is Best Cheating insurance in India, Hope they can beat the 2G scam too...
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HDFC standard life insurance — pension amount not received yet
Dear Sir,I had worked with HDFC slic from 14 april 2008 to 20 june 2009 but till date I have not received my pension amount.i have couriered the form three times to the HDFC pf dept, also called them several times but all in vain..please do the needful as i am unable to find a solution to the abovesaid problem,the details are as follows:-
Name - Pankaj Jain
Employee code- 30721
Pension acc no- MH/211273/17859
Mobile no-[protected],[protected]
HDFC Standard Life Insurance Company Limited — HDFC standard life insurance excess deduction of someone else premium via ecs
This is to inform you that I mrs. Mrinalini avinash malgaonkar has following policiespolicy no. 1:-
no.12881953 commenced on 30/04/2009 with rs. 50,000/- Annual premium.
Policy no 2 :-
no.13566187 commenced on 24/03/2010 with rs. 25,000/- Annual premium.
I have got these policy done from hdfc jogeshwari east branch with ecs deductions from our respective personal saving accounts.
For 2010 annual premium deduction it was observed that for policy no.[protected]which does not belong to me)the sum of 50,0000/- The premium amount was deducted by ecs from my I.E.--Mrs. Mrinalini's account along with my own 2 policy ecs deduction.
Immediately, it was brought to the notice of hdfc--jogeshwari e,branch officials.
There was absolutely no response from them.
The writtem complains were submitted to authorities by me.
The bank authorities were not ready to accept the letter of complain. They have not given any acknowledgement receipt for the complain lodged.
I amver y sorry to say but the service of hdfc had been extremely poor.
So far, there had been no response or no communication for this case.
The complain e-mail was sent to the [protected]@hdfclife.Com. Initially the e-mail was accepted by them and few details were asked which was provided. Later,the bank statement which shows the wrong deduction of 50,000/- Was asked ----that attachment of statement was also sent,but then there was a reply that they have not received the attachment,so it was sent again and again but now it has stopped being received by the same ID and it fails to get send.
insurance co — Delete my No from your profile
Pls delet my mobile no from your profile. my No is [protected].Some one mis-using my no for sending the SMS to every one
Pls delet the same from your end [protected]
wupload premium account — cheated money
hai,my name is parthiban from salem, tamil nadu, India. mobile no: [protected] language : Tamil
i paid inr 620 for wupload 30days premium account to official resellers icici bank a/c on 7/5/2012
but they could not give any passwords and any reply. they reply only the wupload site owners cheated .
please help me . please stop their online cheating
OfficialReseller.in http://www.officialreseller.in/ [protected]@officialreseller.in Cash Deposit from any bank in the country (India), Online Net Banking (NEFT), AXIS,HDFC,ICICI,SBI,SBH,HSBC,PNB,Citi Bank,Karnataka Bank,Andhra Bank,ING VYSYA & More. Cheque Or Demand Drafts, Paypal,Debit Card (India 52 Banks), Credit Card Reseller Since:[protected]
I am Vikram.
I invested in four HDFC SLIC Policies.
1. Unit Linked Young Star II Equity Managed Fund II (in 2009)
2. Unit Linked Pension Maximiser II Growth Fund II (in 2009)
3. Young Star Supreme Suvidha Growth Fund II (in 2010)
4. HDFC Endowment Supreme Suvidha Growth Fund II (in 2010)
This was done at the advice of my 'Personal Banker' at the HDFC Bank Branch in Malad, Mumbai. He suggested that the policies mentioned above will fetch good returns. He did NOT mention any of the hidden charges (perhaps that why they are called that).
I am stuck with annual premium for three of the above for five years.
They TAKE AWAY almost 10.2% of the premium at the time of investment. And another .62% taken annually as charges.
What's ALARMING is the total value of my investments is less than the amount invested.
I would have got BETTER returns in a savings account!
On calling the said personal bankers, all I get is extremely vague replies.
It seems like it's my hard earned money down the drain.
It's not 'Sar utha ke jiyo', it more (if you pardon the term), 'Chutiya katva ke jiyo'
I invested in four HDFC SLIC Policies.
1. Unit Linked Young Star II Equity Managed Fund II (in 2009)
2. Unit Linked Pension Maximiser II Growth Fund II (in 2009)
3. Young Star Supreme Suvidha Growth Fund II (in 2010)
4. HDFC Endowment Supreme Suvidha Growth Fund II (in 2010)
This was done at the advice of my 'Personal Banker' at the HDFC Bank Branch in Malad, Mumbai. He suggested that the policies mentioned above will fetch good returns. He did NOT mention any of the hidden charges (perhaps that why they are called that).
I am stuck with annual premium for three of the above for five years.
They TAKE AWAY almost 10.2% of the premium at the time of investment. And another .62% taken annually as charges.
What's ALARMING is the total value of my investments is less than the amount invested.
I would have got BETTER returns in a savings account!
On calling the said personal bankers, all I get is extremely vague replies.
It seems like it's my hard earned money down the drain.
It's not 'Sar utha ke jiyo', it more (if you pardon the term), 'Chutiya katva ke jiyo'
Hello,
HDFC has always been my most trusted brand in the banking/insurance industry, but that was until I bought ''SIR UTHA KE JIYO''policy. I invested 1, 50, 000 over that last three years and the value just kept diminishing. Now when I want to surrender the policy I get to know another 30% would get deducted.
I wounder how the value of this policy alone is going down. I suspect that the premium amount that we paid may not have been completely invested.
HDFC STANDARD LIFE is ABSOLUTELY a 'NO'; 'NO' for any further investments.
HDFC has always been my most trusted brand in the banking/insurance industry, but that was until I bought ''SIR UTHA KE JIYO''policy. I invested 1, 50, 000 over that last three years and the value just kept diminishing. Now when I want to surrender the policy I get to know another 30% would get deducted.
I wounder how the value of this policy alone is going down. I suspect that the premium amount that we paid may not have been completely invested.
HDFC STANDARD LIFE is ABSOLUTELY a 'NO'; 'NO' for any further investments.
HDFC Standard life company is a best cheating company in India. I was persuaded like anything to invest in Endowment suvidha plan with high premium of Rs.200000 per year. Unfortunately after three years of continuing that policy, I am not in a position to continue that policy further and would like to understand the benefits of that policy to withdraw the money which I invested for three years. No one either in HDFC life branch or the agents or customer care representatives could give me the right information about the status of my investment after a period of time if I leave it in paid up condtion. Except on surrender charges nothing could be cleared by any branch personnel or the agents who call frequently to pay further premiums. Regarding surrender charges information already does exist in the policy. What could be the status of my 6 lakhs i invested now after 5 years or 6, 7, 8, 9, 10 years later no one could furnish in a logical approach. Had it been left to my decision at the time of investment, we could have planned according to our convenience not at the cost of HDFC bank managers convenience. No one is clearly explaining what could be the fund maintenance charges that will be deducted in 4 and 5 th year if we leave the policy in paid up condition. That will atleast give me idea whether to keep it in paid up condition or to surrender with 30% surrender charges. I would like to advice all not to get trapped in this kind of investments which will cost at our hard earned money putting us in great trouble. Hope HDFC life should understand this in positive approach and see that customers are not cheated.
I have similar experience. One Mr, Uppal who was earlier with Thane Branch had come to my office and explained certain things. I blindly signed the policy papers. I never realised that after 3 years I would not have the liquidity to pay rs. 2. 50 lakhs as annual premium on three policies which is to be paid once in a year. The dates are different. The EMI is deducted directly from my Savings A/c with HDFC Bank. I must have given such instructions. Trusting HDFC Bank and its Officers, it never struck me to think and apply my mind or consult any one.
Now I thought to discontinue the premium payment and to see how much I can get back. After paying 4 lakh rupees as premium in the last 4 years, I was told that I would maximum get 1.50 lakhs!
Hence I fully agree with the experiences of others and would request every one to be extremely careful for any products of HDFC either bank or the corporation. The Officers who visit your place leave the jobs after couple of years and the Bank disowns the promises made by their Officers and nothing is in writing. You trust the officials and sign on the dotted lines. Most of the time the Officers approach you when the Scheme has left only few days or the last two days etc.
Now I thought to discontinue the premium payment and to see how much I can get back. After paying 4 lakh rupees as premium in the last 4 years, I was told that I would maximum get 1.50 lakhs!
Hence I fully agree with the experiences of others and would request every one to be extremely careful for any products of HDFC either bank or the corporation. The Officers who visit your place leave the jobs after couple of years and the Bank disowns the promises made by their Officers and nothing is in writing. You trust the officials and sign on the dotted lines. Most of the time the Officers approach you when the Scheme has left only few days or the last two days etc.
Myself also a victim of hdfc SL. There is no guarantee even after fifth year that every one will get 100% of our money invested it also depends on the share market value at the time of policy surrender. And the very worst part is no bloody is ready to answer any questions we ask. The agent who came with this policy to me is no more working with hdfc and even the branch manager is also not ready to answer any questions
They simply say to launch a complaint to hdfc insurance at Bombay. They reply like every thing is signed and accepted by you. But the actual hidden truth that this policy involved in share market value is not intimated to any of the customer.
Sunil kumar.
Chennai
[protected].
They simply say to launch a complaint to hdfc insurance at Bombay. They reply like every thing is signed and accepted by you. But the actual hidden truth that this policy involved in share market value is not intimated to any of the customer.
Sunil kumar.
Chennai
[protected].
Yes I have also had a similar experience with HDFC Pensionsuper Plus scheme where I invested 7.2 lacs 4 years ago. I had repeatedly TOLD THE AGENT that I wanted minimal risk as this money was required for my daughters future of wedding. However today my money has reduced to 6 lacs and I have lost 1.2 lacs in last 4 years. This is despite market actually doing well and NIFTY dropping only now. When I contacted HDFC they gave me a response which made no sense stating that they had put all my money in High Growth and High Risk and market had done badly. when I asked them how it was that during this period, their own bank value has itself jumped by about 50% even at today's value, no response.Even the Nifty at around 5500 is at an average of what our investments have been. However our funds are down by 25%..which corresponds to nifty level of 4500 ...how can they under performe Nifty by such a large amount.
THEY HAVE TAKEN A PENSIONERS MONEY FOR A BIG RIDE
THEY HAVE TAKEN A PENSIONERS MONEY FOR A BIG RIDE
To restrict the further losses and to explore the possibility of recoverring some loss, I have finally surrendered my policy which was purchased in the year 2008 and I had paid 4 lakhs. Just to ensure that the premium for the year 2013 does not get deducted (ECS option), I had to ensure that keep a lower balance than Rs. 1 lakh. To stop ECS option for Standard Life from HDFC Bank, you need to give 2 months advance notice. With great difficulty, I had to transfer funds to ensire that the premium won't get debited.
The surrender value for the policy where I paid Rs. 4 lakhs plus service tax came to Rs. 2.77208 lakhs!. Policy no. 13735488
Lesson learnt is not to trust the so called trusted Brand and their Officers who mislead the people just to get the enhanced performance pay and leave the employers. With several vists and smart presentations at Office and at home, these people build the trust and pursue you to sign the documents. During this period, if you visit the Bank, you get a treatment like a Maharaja. Once documents are signed and 1st premuim is paid, they show different colours and the so called human touch is vanished and it becomes simply a legal and documented process. They make you feel stupid for the trust you had shown and signing the papers blindly. I was given the policy at the age of 56 where the annual premuim was Rs. 1, 00, 000/- without bothering for my liquidity position after my retirement.
The surrender value for the policy where I paid Rs. 4 lakhs plus service tax came to Rs. 2.77208 lakhs!. Policy no. 13735488
Lesson learnt is not to trust the so called trusted Brand and their Officers who mislead the people just to get the enhanced performance pay and leave the employers. With several vists and smart presentations at Office and at home, these people build the trust and pursue you to sign the documents. During this period, if you visit the Bank, you get a treatment like a Maharaja. Once documents are signed and 1st premuim is paid, they show different colours and the so called human touch is vanished and it becomes simply a legal and documented process. They make you feel stupid for the trust you had shown and signing the papers blindly. I was given the policy at the age of 56 where the annual premuim was Rs. 1, 00, 000/- without bothering for my liquidity position after my retirement.
my mother visit to HDFC bank to open locker manager say her there no locker available he say me to my mother to invest 50, 000 in super 2 plan for 5 years and she can get locker she paid 50, 000 and when i got know i call to man agar he say me after 5 years i will get my money before that i cannot take when review that policy its not good bank cheat to my mother she is uneducated .kindly help me how to get my mother money back for details plz email me on [protected]@yahoo.com
DEAR SIR HELLO
I HAVE HDFC UNITLINKED PESION PLUS PLAN
I PAY 25000 P A AND I PAID 125000 IN LAST FIVE YEARS AND PRESENT FUND VALUE IS 156000
I WANT SURRENDER THIS PLAN
HOW MUCH FUND VALUE GET TODAY AFTER DEDUCTION SURRENDER CHARGES
I HAVE HDFC UNITLINKED PESION PLUS PLAN
I PAY 25000 P A AND I PAID 125000 IN LAST FIVE YEARS AND PRESENT FUND VALUE IS 156000
I WANT SURRENDER THIS PLAN
HOW MUCH FUND VALUE GET TODAY AFTER DEDUCTION SURRENDER CHARGES
Hdfc Life Insurance — misselling of policy
totally fraud case by India's Top Leading Bank Organisation HDFC. resolved, thank you.
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