We took one policy from HDFC standard Life Insurance Co ltd. and paid premium for 3 yrs and i took this policy on 3/8/06 and then i wanted to surrender it and were told that i have to complete 3 yrs from date of issue of policy then I surrendered it on 3/8/09 at their branch at bikaji cama place. Their executive accepted my surrender request and even mentioned the amount of refund which i would get in my return receipt of letter. However, it was later denied. They said that it has been rejected because the policy has to complete 3 yrs. Then i wondered why your executive accepted my surrender request. I could have waited for one more day. Even the fund value was also high. Then after lot of communications and follow up, it was finally rejected. I thought there is no use of putting efforts in getting the refund as on 3/8/09. Then i again gave the fresh surrender request on 17/8/09, which was accepted by Ms.Akriti at their bikaji cama place branch and she mentioned that i would get refund of Rs.69507 in my return receipt. But to my surprise i received cheque no. 080877 dated 26/8/09 for Rs.67584. We are surprised to see this amount as we were told that we would get the refund of Rs. 69507/- as per receipt letter dated 17/8/09. This letter was received by Ms.Akriti and she mentioned in this letter that we would get refund of Rs.69507 which is duly received by her and stamp put in. This type of service industry is run by people or executive who deal with the customers. Their duty is to educate the customer the right thing. But both the time i got false information. The same thing happened with us on 3/8/09. We gave surrender request in your branch which was received by Mr. Rakesh and he mentioned in our letter that we would get refund of Rs.70181. But it was later rejected that my policy has not completed 3 yrs. When it has not completed 3 yrs then why your executive Mr.Rakesh accepted my surrender request and wrote this amount. We are enclosing copy of it. At all the stages we were told by phone and email, that my surrender request has been accepted. We are enclosing all the copies of email. See your email dated 5/8/09 writted by Ms.Subhashini S that my surrender request has been accepted and then see your email dated 12/8/09 which states that it has been accepted and refund cheque would be sent. But after all these correspondence my surrender request was finally declined. If I could have been informed by Mr.Rakesh that your policy has not completed 3 yrs then I could have given the surrender letter on very next day. But he accepted my request and was told that I would get refund of Rs.70181. But it was rejected. And nobody was of help from HDFC even when after several emails and complaints.

And then after lot of discussions with Mr.Akriti, I was told that a fresh surrender request has to be given which I gave on 17/8/09 for which I am having copy and the refund amount mentioned by Ms.Akriti for Rs.69507/-. Then why I have got refund of Rs.67584/-.

I would request you to kindly give us the balance refund.

Yours Sincerely,


Ajay Kumar Jain
M-13, First Floor
South Extension, Part-II
New Delhi—110049