[Resolved]  HDFC Bank Standard Life Insurance Company Limited — Complaint about Misguiding for three years about the policy. Policy No. 10544471 HDFC Unit Linked Young Star Plan

Date 09 Mar2009
To,
The Branch Manager,
HDFC Standard Life Insurance Co. Ltd.
Chandrapur Maharashtra.
Sub Complaint about Misguiding for three years about the policy. Policy No. 10544471 HDFC Unit Linked Young Star Plan
Dear Sir
I had purchased your Policy as mentioned in subject, three years back. Date of commencement of policy 13th March 2006. Rs. 15, 000 =00 per year for three years I had given you. At the time of sale, it was told that, I will get back Rs. 45, 000/- + 10 percent interest on the amount, though the policy is depend upon MARKET SITUATION. Your FUND MANAGERS will manage our account, and no NEGATIVE GROWTH will be shown.
After one year completion, it was told that your income will increase from next year; we are not showing any NEGATIVE GROWTH.
After 2nd year completion the same story was repeated. At the time of 3rd premium payment it was told by Mr. Vipin Siyal the then Asst Branch Manager that I will get 50 percent of the amount after three years completion and 50 percent will get after completion 15 years.
After 3rd year completion, I am shocked to listen that, I can take out only Rs. 1000=00.
For last three years there is no COMMUNICATION from your side that FUNDS are not getting MANAGED properly by your so called FUND MANAGERS.
After three years completion if you are telling me that, there is COMPLETE NEGATIVE GROWTH in my account, then sorry to say I am not going to LISTEN.
This is the COMPLETE CASE OF CHEATING by you to yours customers.
Please RETURN my complete Rs. 45, 000=00 + 10 percent interest on the same. I am not ready to bear the LOSS of my HARD EARN MONEY because of your INCAPABILITIES. Please note.
I had given complaint to your BRANCH OFFICE at Chandrapur on 02, Mar 2009, still there was no communication from your side. Please note I want YOUR ACTION TODAY itself.
Your EARLIEST ACTION WILL BE HIGHLY APPRECIATED.
Regards
S. R. Kanadey [protected]