Hi,

I hold an ULIP with HDFC SLIC since Mar 2007 ( ploicy # 10971092) which I want to surrender on top priority to meet some urgent monetary needs.
Briefly am not able to initiate the surrender of my policy # 10971092 because of bereacratic and unhelpful HDFC SLIC staff.

I approached the Kalyan Branch of HDFC SLIC and discussed my requirement with Mr. Hardik who was helpful but unfortunately not equipped / trained to provide any solutions.
Also the BDM of the branch (as was introduced to me) was another employee who thought he could take me for a ride and it was an absolute waste of time discussing the requirement with him.

My requirement is simple: SURRENDER MY POLICY and get the correct fund value credited to my account.

Issues that I currently face with this policy are as follows:
1. I had selected my Mother "MANISHA BHIDE" as my nominee and not my "beneficiary". HDFC SLIC has taken the liberty of adding her as a "beneficiary" and are now informing me that the surrender amount would go to my mother (beneficiary) and not to me although i'm the ploicy holder. No one disclosed this to me at the time of policy inception.

2. My mother is currently in the USA AND WILL NOT BE BACK FOR THE NEXT 6 MONTHS. There is no option by which she can transfer this money to me. In my pursuit of findng a solution i checked with hardik if I (the policy holder) can change the beneficiary. On first instance he said yes. Accordingly I got all relevant documentation for changing the beneficiary from my Mother to my Wife. But after an hours ride back to the branch I got to know that the information provided was incorrect and the beneficiary cannot be changed because my product was a version 4 product (god knows what does that mean). The non-availability of the option of changing the beneficiary was not informed to me at the time of inception of the ploicy. This is sheer misselling and hiding of information from the customer.

3. For surrendering the policy the welcome kit is required to be submitted. Unfortunately am not able to trace the document. The branch had asked me to follow a lengthy process of providing an affdavit, indemnity and a Police FIR copy. The ploice have denied providing an FIR copy stating what can they do if I'm not able to trace the document. I do buy their argument and my question is why can't a customer approach a branch and give a declaration that the policy document is lost and he will not hold the insurance company liable for any further claims. HDFC SLIC has all relevant information which can be verified. Also the fund details are readily available for caluclating the surrender value.
PLEASE PROVDE A SOLUTION FOR THIS SCENARIO.

HDFC SLIC
Client ID51837598
Policy No.10971092


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Regards,
KHUSHAL BHIDE.
9892502011.

Its been months that I have invested in HDFC std Life and my standard of life has been declined drastically...
To be precise, I have not yet recieved the BOND and other dcuments from HDFC. Agents are being howering around only to collect premium and there is no Service rendered properly. "A well satified cutimer is a good advertisement".Hope you got what I'm saying?