HDFC standard life insurance
Return of Money

My policy # 00175461 .. paid 11, 033 for 3 years, post which I decided not to pay and this was agreed with HDFC sales person who sold me the policy only mentioned that it was necessary to pay for 3 years (lock in period).

Tody June when I call them up the status is as follows;

Rs 33, 000 approx paid. The money has been with the bank for more than 5 years

They will now return the following:

First year premium will not be returned (33, 000 -11, 000)

50% of the remaining 22, 000/2 = 11, 000

Bonus of 6000

Which means I get Rs 17, 000.

How can a bank who has cheated so many of us have made only Rs 6000 bonus?? Irony...

So my dear friends... never, never, never invest in insurance schemes... you are bound to feel cheated.

Fixed deposit... thats the only place your money can be safe