Scam or fraud: HDFC Life — surrender quote value is too too low

Submitted by:  Krish NG

Complaint Details:


Policy Name: HDFC Life Sanchay
Policy Terms: 15 years.
Premium Paying term: 5 Years

I already paid 4 years i.e Rs. 1, 20, 000 so far and I didn’t pay one premium.

When I tried to surrender the policy they send me the quote only for Rs 76, 000 looks like very very low, I paid 120k but getting only 76k, as per their representatives when I bought the policy they didn’t tell about it at all and also I asked about the surrender terms and they said once you paid 2 or 3 years and after this paying terms your surrender value would be same as your preimum., this is what they said when I bought this policy, if it’s wrong then they are cheating, why do they give false statement?

Will take further steps after getting an answer from anyone of HDFC life representative.