Complaint Review: HDFClife - Mumbai Select State/Province
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- Author Not Confirmed
- HDFClife 169 Backbay Reclamation Mumbai, Select State/Province United States of America
- Phone:
- Web: www.hdfclife.com
- Category: Insurance Companies
HDFClife HDFC Standard insurance Looting 50% of three year premium in the name of charges Mumbai, Other
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I was looking for investments options and consulted HDFCLife.
My requirements were some investments scheme over 5-6 years period.
The financial consultant at HDFC standard life told that I could use the capital I have, to pay three premiums of HDFC endowment supreme suvidha policy. I was told that 20% of the total premium will be taken by the company towards the administration charges.
After I paid the three premiums depleting my capital, the company now argues that I need to pay 5 premiums in total else, another 30 % will be deducted as charges. The total bargain was initially 1,00,000 Rs (approx 2250 USD) as allocation charges - but after taking all my money - now they say the charges incurred will be an additional 30 %, viz, 3,00,000 (apprx 7750 USD).
Its a flat atrocious act by the marketing agents/financial consultants of HDFC Standard life into luring people promising good returns on investments, but charge about 50 % of the customers money to allocation and other charges.
This report was posted on Ripoff Report on 10/14/2011 12:42 AM and is a permanent record located here: https://www.ripoffreport.com/reports/hdfclife/mumbai-select-stateprovince-400020/hdfclife-hdfc-standard-insurance-looting-50-of-three-year-premium-in-the-name-of-charges-788626. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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