Need help to Cancel my HDFC standard life pension scheme?

My mother was duped by financial consultant by enrolling her into a unit linked pension scheme as against her request for a mutual fund, he convinced her that unit linked plan is nothing but mutual fund and its a onetime payment of Rs 50,000, things came to light when we got a premium reminder from the back office saying the premium needs to be paid for consecutive 3 years. My mother is 57 years of age and doesn’t have a regular source of income and hence will not be able to carry on with the policy, on a written complaint to HDFC on the subject matter their grievance team reverted saying that the agent had explained us everything in detail and they would not be able to help us in this regard..

4 Replies to “Need help to Cancel my HDFC standard life pension scheme?”

  1. Thats why one should not invest by direct company agents. Choose agents/brokers who provide gamut of investment services

    If you are from Delhi, May be I can help you. Just write your query on or mail at rishi (at)
    I will talk to the company regarding this matter

  2. There is another case from one Mr Shankar Lal, posted a few hours later than you.

    He approached ICICI bank for MFs but was instead sold a Pension Plan. He is already retired. At present he must be 60.

    The agent has misguided you because the commission on a pension scheme is 10 times more than mutual funds.

    Since you have already admitted that you have been duped nothing more can be said.


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