I invested in 2 HDFC Life policies about 7 years ago and paid premiums regularly. However I found out that the NAV is much below even than the total premium paid during the last 7 years. Since the lock-in period was over I decided there was no point carrying on with the investment. I was advised by the insurance official at their offices that I could stop paying the premium though should not give up the policy. He said I would be eligible for the bonus and other benefits at the end of the 10 years . I stopped paying my premiums from Feb-Mar 2016. I now receive e-mails and messages regularly from HDFC advising me to reinstate the policy by continuing to pay the premiums. They promise I would be eligible for the same benefits and would not be penalized for not paying this year. Please advise whether it is beneficial for me to restart paying the premiums or if I should let the Paid-up status continue ?

I invested in 2 HDFC Life policies about 7 years ago and paid premiums regularly. However I found out that the NAV is much below even than the total premium paid during the last 7 years. Since the lock-in period was over I decided there was no point carrying on with the investment. I was advised by the insurance official at their offices that I could stop paying the premium though should not give up the policy. He said I would be eligible for the bonus and other benefits at the end of the 10 years . I stopped paying my premiums from Feb-Mar 2016. I now receive e-mails and messages regularly from HDFC advising me to reinstate the policy by continuing to pay the premiums. They promise I would be eligible for the same benefits and would not be penalized for not paying this year. Please advise whether it is beneficial for me to restart paying the premiums or if I should let the Paid-up status continue ? more

Helpful Tax, Investments and Retirement Dec 26

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Jayasrinivas Patri (Chartered Accountant)

Further the agents/ advisers who work at the time of policies never be in same companies. They never own responsibility for the product they sell. Let the buyer be aware is the method they adopt more

Dec 29

Jayasrinivas Patri (Chartered Accountant)

These policies are useless. Just cancel them and get what best you can get. I have done same thing with HDFC Crest more

Dec 29

UDAY GB

Either HDFC or any other to the effect is NOT fair in their Transactions more perticularly about the Returns after maturity - several Year's Investments. It is more advisable to cut short and Take out all money so to avoid further devastation's. PPF and similar other Govt. Securities are more Safe and Assured in this respect. more

Dec 29

Chandra Sekhar M (Certified Financial Advisor)

Dear Neeru Sood, I understand your pain in realizing that you have been sold the wrong product. Before we can decide on what should be done, it is very important to understand what is the policy about ? Whether it is a highest NAV one or a simple Unit linked one. Do send the details to me for taking informed decision. info@indiabrightfp.com more

Dec 27

AAGam ShetH (financial consultant)

Sorry HDFC credit is highest nav product more

Dec 27

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