Getting less refund from hdfc insurence

vikrant bhardwaj (Querist) 06 May 2013 This query is : Resolved
respected lawyers
one of my client invested 90,000 rs in a ulip insurance policy now after 3 years when he ask them to surrender his policy the insurence agency is refundin only 60,000rs .
so plz tell me that under which act and in which court I can sue the company so that my client got his money back

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Devajyoti Barman (Expert) 06 May 2013
These are Stock Market linked Policies. If there fall in the equity market , you would get lesser price.

ajay sethi (Expert) 06 May 2013
when you take ULIP policy dont you read the terms and conditions .?
the policy specifically provides that surrender charges would be applicable. it is only if you surrender after 6 years that no surrender charges would be deducted

prabhakar singh (Expert) 06 May 2013
under NO Act and in NO court YOU can sue the company AND WHATEVER YOUR client COULD GET HAS ALREADY got .

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