If you have taken a loan from H D F C, and taken a insurance cover for the loan you may have done a mistake.
You may have paid an exhorbitantly high premium while you have not got proper insurance coverage.
If you have taken a POLICY from HDFC Standard Life Insurance, the probability is that you have paid too high premium. You could have got your LOAN COVER with one fourth the premium amount you have paid.
Plus there is no gaurantee that you will get anything on maturity or survival.
These are unit linked plans which may not even return the premium if there is no death. GAURANTEED RETURN is not there.
If you read the policy document carefully then you will realise the loopholes.
chances are that you have been tricked into paying the premium while the negatives have been hidden from you by the sales executive.
Is there a solution? Yes, specially if you have received the POLICY not more than the last 15 days.
write a complaint at the following email ID qoute your policy number :
[email protected] - s e r v i c e @ h d f c i n s u r a n c e . c o m.
[email protected] - r e s p o n s e @ h d f c i n s u r a n c e . c o m.
[email protected] - l i f e @ h d f c i n s u r a n c e . c o m.
[email protected] - c o m p l a i n t s @ i r d a . g o v . i n.
[email protected] - i o m b k o l @ v s n l . n e t.
[email protected] - i n s c o u n @ g m a i l . c o m.
Please ask them to cancel the policy and tell them that you wish to surrender.
Tell them to refund the whole premium amount paid without any deductions.
TELL them that you only want a Home Loan Protection Plan or HLPP .
H L P P, is far less costly and is ideally suited to cover the LOAN .
The premium calculator of HLPP is available on the website of H D F C LIMITED .
the main page of the site www.hdfc.com.
HLPP is an IDEAL plan which covers the whole tenure of the loan with one single premium.
The PREMIUM needs to be paid just one time and covers all deaths.
Below is provided an example of one time single premium HLPP . The premiums in your case may differ as per your age, loan amount and exact tenure of the loan.
hlpp PREMIUM in Rs. / H L P P premium
loan term period = 20 years / LOAN TERM TENURE
LOAN AMOUNT loan amount
1 0 LACS 15 LAKHS 20 lacs 2 5 lakhs 30 Lacs
AGE age 3 0 years 24580 3 6 8 7 0 49160 6 1 4 5 0 7 3 7 4 0
35 years 34850 5 2 2 7 5 69700 8 7 1 2 5 104550
40 year 53130 79695 106260 132825 159390
hlpp PREMIUM in Rs. / H L P P premium
loan term period = 1 5 years / LOAN TERM tenure
LOAN AMOUNT loan amount
1 0 LACS 15 LAKHS 20 lacs 2 5 lakhs 30 Lacs
AGE age 3 0 years 16330 24495 32660 40825 48990
35 years 22710 34065 45420 56775 68130
40 year 35340 53010 70680 88350 106020
4 5 years 5 3 9 7 0 80995 107940 134925 161910
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