I had taken a ULIP policy from HDFC Standard Life Insurance. I was misguided by the agent. He showed me wrong illustration and did not tell me about the very high allocation rates. After paying 1500 for some months, I decided to surrender my policy. I submitted an application to their Maninagar (Ahmedabad) branch. Even returned the policy document. They did assure me that that there would not be any deductions from my account any more. I again visited the office after two days to re-confirm it. He re-assured me. But HDFC took out 1500 from my account on 16/01. This amounts to fraud.
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