[Resolved]  HDFC Bank Std Sun Life Insurance " Young Star Champion " — Deduction under the scheme

sir,
The HDFC std sun life insurarance scheme is an investment fund by bank with some minor deduction due to insurance coverage. At the time of policy, the bank officers explained that the policy invest in different areas like equity, govt bonds etc with an eye on maximum return & categorically assured that there would be no deductions by the bank.
However on receiving the policy, i found to my shock that 40% deductions has been made from the first deposit of 50,000/- & 30% shall be made from the second deposit of 50,000/- & 3rd , 4th & 5th deposit shall carry deduction of 2% each. Bank officers deny that any deductions will be made by bank & promise that after 5th yr any deduction shall be returned by the bank, but they donot confirm in writing. however outside sources confirm that these deduction shall not be returned by bank.
I feel cheated & disguted at the approach by bank & want to cancel the policy & get refund. help is required for settlement of the case