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Iqbal Zafar on 09 April 2012
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Hdfc life insurance ulip plan is a trap

Hdfc life insurance has cheated me. I have taken a ulip policy on the basis of information provided by their agent. I have deposited 3 compulsory premiums. After three years I received a cheque of almost half the amount I have deposited as premiums with a note that my policy is cancelled due to non payment of premiums and it cannot be revived. After that I studied their policy documents and came to know that this was not an insurance policy but it is a real trap to cheat the public. I am really surprised how the insurance regulatory body allowed such a vicious insurance plans. Iqbal zafar. Policy number : 9857


They also cheated me..hdfc !&*(&^&

you are not alone..

Zafar Iqbal

After lodging my complaint on this website I received a letter from hdfc lifeinsurance asking me to deposit the amount I have received to continue my policy. I visited their office with the letter but they didn't provide any satisfactory reply to my queries. Therefore I decided not to deposit that amount with this company who knows what other traps they may have in room. "Bhagte chor ki langoti hi sahi".

Is there any procedure to get my remaining balance of rs 32000+interest for 4 years which they have deducted as their hidden charges. I never saw any charges applied in insurance plans from LIC.