Sep 19, 2020 02:24 PM
3045 Views
I have had a horrible experience with HDFC Life. I was sold a ULIP pension plan and I was promised it is a good investment. The smooth talking banker convinced me to go for the pension plan.
BEWARE! The plan is based on the stock market. The fund value went below my premiums invested due to the covid-19 crash. But over the months, it recovered to some extent. Be sure to ask the following questions:
What is the pension rate?(Very important)
Will I be able to withdraw the entire fund amount?
Is this dependent on the stock market?(Yes, it is)
I have lost lakhs of rupees in interest because of this investment. Fortunately, due to health reasons, and a lot of back and forth, I was able to get my premiums back.
Better investment options are bank FDs, NCDs, etc. which gives much better returns than pension, the current rate is pathetic, around 6%.
So BE WARNED and BE CAREFUL, before you sign up for anything with HDFC Life.
