HDFC Life Insurance deducted 95% as surrender charges

I had taken HDFC policy in july 2008 & have paid a premium of Rs.2000/- till july 2009.(Rs. 24000) I had surrendered my policy on 11th of August 2009.( Due to some personal reasons I had to surrender)

I had been told that I will be receiving the refund amount afer the 3rd year of my policy term.

But now when I spoke to them regarding my refund amount I have been told that there is no amount to be refunded.

They informed me that they have deducted 95% amount as surrender charges. ( It was not at all told to me when I took the policy by the executive.)

Customer Name : Swathi B
Complaint Against Company : HDFC Life Insurance Company
Customer Contact Number : 9818110252
Customer Postal Address : # 89, 3rd cross, pashim county, Myderahalli, Bangalore-90

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