Last month I purchased the HDFC standard life’s product named Growth Fund 2.

The HDFC has got a good service levels and the process of application, response,websites were preety fast.

When I received the policy papers I got the shock of my life.

When I was checking the unit statement, I found that only 60% of my premium has been used for buying the units for my policy. There was no mention of remaining 40%.

After few calls with HDFC and the agent I came to know that

1. HDFC CHARGES 40% of the PREMIUM MONEY THAT YOU PAY AS POLICY ADMINISTRATION CHARGES.

For obvious reasons, this has not been clearly documented anywhere on the website nor the HDFC agent provides these details clearly.

Second shock was that even the 2nd year’s premium also attracts the same 40% POLICY ADMINISTRATION CHARGE.

YOU NEED TO PAY MINIMUM 5 INSTALLMENTS OF PREMIUM & THEN YOU HAVE OPTION TO GET OUT OF THE POLICY.

After obidiently paying these 5 premiums HDFC CAN PAY MAX 20-30% of the total money you invested.

THIS MEANS INVESTING IN HDFC IS NOTHING BUT LOOSING YOUR PRINCIPAL FOR SURE....


WORST PART OF THE HDFC IS YET TO FOLLOW

Now after seeing this if you decide to backout then you can, BUT HDFC WILL CUT 97% OF THE TOTAL PREMIUM MONEY PAID AND WILL SEND THE REMAINING MONEY TO YOU AFTER 3 YEARS.

THIS IS CLEAR CUT (SAFEDPOSH) CHEATING OF THE CUSTOMERS BY HDFC & HDFC SHOULD BE ASHAMED OF IT.

I WOULD REQUEST EVERYONE TO BE VERY VERY CAREFUL WHILE BUYING THE PRODUCTS FROM HDFC AND WOULD NOT AT ALL RECOMMEND HDFC TO ANYONE.