Respected Sir/Madam, This complaint is against HDFC and their agents name is Rituraj and Binod Kumar who approached us and sold us the product called SAP.Policy no 13572613. Name of the policy holder Jyoti Sujanani.

They told us that we will be getting 6% on the amount which we invest same like if we were to put the money in the fixed deposit and we will get 3.25% annual bonus on the sum assured. Now we have found out that the 6% is given everyyear as a death benefit and around 2.5 % is given and not 3.25% and also we asked the agents if we can withdraw after 3 years and they said yes and now we have found out that we cannot withdraw in between.

When we got the document it doesn't say anything that we cannot withdraw from this plan in between. The document also doesn't say anything about this plan not being a fixed deposit. When we went to the HDFC standard life insurance office and met the operations dept and spoke to umesh and all he told us was that this is a conventional plan and we told him to explain the features of this plan. He told us that he will send the agents to us but no one came to meet us and time passed by and when no one came to meet us for more than a month we decided to call the agents who sold us the plan and they told us that all is given in the illustration. We told them to come and explain since we have heard that the things what we were told is not correct. They never came to meet us and so we realised that something is wrong and so we decided to go and meet the brance sales manager Mr. Anton and asked him to explain about the 65 and 3.25%. He told us that 6% is added every year on the death benefit.


So we decided to file a complaint and ask for a refund and surrender the policy .Now these agents are denying this. And the HDFC has given a reply that we are complaining after 15 days so it is our fault. They are saying that we decided to invest in this plan after understanding the plan properly. When we got the document it doesn't say anything that we cannot withdraw in between. It only says that we will get maximum benefit if we stay invested for 10 years. So if we want to withdraw we should be allowed to do so since the information what we got from the agents was different from what the plan originally offers and after filing a complaint on the 14 of June we are getting a letter from HDFC dated 17th telling us that we cannot make a partial withdrawal and that this is not a fixed deposit. It is HDFCs fault that these things wre not mentioned in the original document. Since if these words were mentioned in the original document we would not have waited for 2 months to file a complaint and ask for a refund on our investment rightaway.

We would highly appreciate if you can intervene in this case and get our money back from HDFC since we have been cheated by the agents and also by HDFC since they didn't give us all the information about this product in the original document.

Thanks and Regards,

Jyoti Sujanani