I had Purchased a Policy form HDFC Standard Life Insurance Co. ,Policy Name Wealth Builder,Policy No. 13822330,annual premium 2,50000. As per policy terms Sum Assured must be 5 times of the annual premium i.e. 12.5 L , Policy term is 15 Years.On death of Insured person nominee of the insured person will be benifitted with Fund Value or Sum Assured which ever is greater. After completion of 5 years my fund value will be more than the 12.5 L as 12.5 L deposited amount + Growth obtained ( If i have not withdrawl any amount from the account). Even then i have to pay Mortality charges for Sum Assured upto 15 Years.whereas my Nominee will get only Fund valuey ( As higher Value) not the Insured amount due to lesser amount.
I had forwarded complaint to HDFC Standard life insurance co. from where i got reply that This policy is Approved by IRDA.

You are requested to look into the terms of the policy and clarify the point that if i am paying mortality charges on Sum Assured why my nomineei will not get benifit of the same. Why Fund value + Sum assured has not been paid to him/her