Complaint Details

Status	:	Closed
Complaint No	:	0108132/2019
Category	:	Insurance
Date	:	05-03-2019
Subject Line	:	Cancellation of my policy No. 21041570
Complainant	:	Prateek Jain
Address	:	14-A EXTENSION, KARAN NAGAR
Complainee	:	14-A Extension, Karan Nagar
Address	:

Complaint Details
Sir,
I am an HDFC Bank customer. I want to bring to your notice that the bank person has mis selled me this policy HDFC pro growth plus by saying that the policy is for 5 years and you can withdraw your amount after 5 years but the document I have received is clearly showing that I have to pay premium for 10 years it means the policy is for 10 years moreover the bank person has told me that you will get minimum 12 to 15 % returns on your investments but there is no written proof on these returns in the document. They have told me that I will get guaranteed 12 to 15% returns. They have provided me misleading information about the policy. They didn't even told me about the discontinued fund if I am unable to pay premium after 1 year all my funds will end up in discontinued fund where I will not get any benefit of the policy and the policy is lapsed. They have provided me no information about the charges to be bearded by me during the policy term. When I complained in the bank about it, the bank manager said that all information regarding the policy is conveyed to me but in actual they didn't. Moreover he was supporting his employee who has done my policy and totally neglecting my point of view and was giving wrong explanations to me and blaming me repeatedly.

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