Need to Get Rid of HDFC SL Crest

POSTED BY Ajit S patil ON December 17, 2011 10:17 am COMMENTS (2)

Hi Manish,
Just two days back I signed for HDFC SL Crest. Premium is 50K. Now after reading u I decided to quiet the same. Pls let me know what should I do as still policy documents not received? Also pls let me know how much amount I will get back?

2 replies on this article “Need to Get Rid of HDFC SL Crest”

  1. Dear Ajit, Congratulation for your corrective step. Contact immediately the ins. Co. & inform there you decision to withdraw your policy proposal. Rest info is already provided by dear justgrowmymoney, hence not adding more.

    Thanks

    Ashal

  2. Ajit – In general you have 15 days after the receipt of policy document to cancel a policy. If they have taken a medical test the cost of the test, smoe stamp paper and adminsitrative costs- usually approx ~ Rs. 2000 will be deducted. You should be able to get back a significant amount back at ths time.

    Glad you are able to do this at this time!! For most people it is usually several months or years after they take the policies they realize they have a lemon.

    I suggest you do not wait for policy to arrive. If the check is not deposited just place a stop order and tell your agent you want to cancel the policy. If the amount is already deducted simply tell your agent you need to cancel the policy. Try to get a written okay sooner. You can also walk to a HDFC life outlet and submit a letter n duplicate saying yu want to cancel the policy. If you have not gotten the policy number on SMS you can even write a letter with your applicaion number. If you cannot do this call their call center and get a ticket registered. Dont worry you money is reasonably safe at this point in time!

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