Reviewed LIC Money Plus
Jul 09, 2007 03:19 PM
26415 Views
In continuation of previous writers on Money plus...
Money plus policy is not designed by LIC originally. Ulips are the gift to Indians by private insurance corporates. it the shame on LIC why they didn't bring such a good policies before.
the allocation charges is what the agents shut th...Read more
Commented on consumercell's review
Jul 09, 2007 01:34 PM
the reviewer wrote that 'our
long standing and most successful Insurance sector the LIC of India' and other MNC's in insurance field made a blender mistake by promoting ULIPs.
my question is why the life insurance policy holder are not eligible to receive a good amount through ULIPs than endo...wment?
secondly not only all insurance corporates, the LIC which was supported by the reviewer is also charging 26.5% alocation charge? if LIC is having ture affection with policy holders who are indians, it should not have no allocation charges are less alocation charges than other corporates. But the fact is more mncs has less or nil allocation charges than LIC. Eg Bajaj charges only 5% as allocation charge, in its CUG ULIP. but LIC charges 26.5% for the similar policy. who give more benifits to cumsumers. Cunsumer forum must support any body, based on more benifit for the customers. and not based on whether its indian or MNC companyRead More
Commented on consumercell's review
Jul 09, 2007 01:34 PM
the reviewer wrote that 'our
long standing and most successful Insurance sector the LIC of India' and other MNC's in insurance field made a blender mistake by promoting ULIPs.
my question is why the life insurance policy holder are not eligible to receive a good amount through ULIPs than endo...wment?
secondly not only all insurance corporates, the LIC which was supported by the reviewer is also charging 26.5% alocation charge? if LIC is having ture affection with policy holders who are indians, it should not have no allocation charges are less alocation charges than other corporates. But the fact is more mncs has less or nil allocation charges than LIC. Eg Bajaj charges only 5% as allocation charge, in its CUG ULIP. but LIC charges 26.5% for the similar policy. who give more benifits to cumsumers. Cunsumer forum must support any body, based on more benifit for the customers. and not based on whether its indian or MNC companyRead More
Commented on praki73's review
Jun 30, 2007 11:46 AM
if we invest in money plus Rs 10000 at the end of the year we read our book balance as 9000 even after adding returns. what happened? our hard earned money was eaten up by 26.5% allocation charges.
its good to invest in ULIP only if it is having lower allocation charge ie less than 5%.
bajaj i...n its capital gain policy charges only 5%. the returns also good.Read More
Commented on consumercell's review
Jun 30, 2007 11:31 AM
like private player why not more than the private player why your long standing LIC charges 26.5% as allocation charge?
the role of cunsumer cell must be protect consumers from ill fate from any sector. blindly supporting LIC because it is unique player in field is not having any logic.
before U...LIPS brought by private corporates. LIC invested money in to such units. but why dont they give such returns?
some corporates for example Bajajs capital GAIN policy charges only 5% allocation charge. BUT for the same premium LIC charges 26.5%! why the cunsumer cell not commenting LIC? is he an LIC agent?Read More
Commented on ajay886's review
Jun 07, 2007 10:31 AM
I agree that all the agents in the world Use soapy and sweety words to sell a product. But when it comes to the after sales services , we have to met some reality.
sorry for the situation, that Ajay and ny1902 got in to.
I put here my experience similar to ajays problem,
I received email and SM...S regarding my policy is being proceed. and when policy couriered I got another messages for the same.
regarding premium payment I noticed in thier site that each and evary corner of the city is having drop boxes. and I am utilising this service till date saftly.
regarding policy staus we can register our details in thier site and check out periodicaly. for me a mail is enough to swicth the fund.
regarding premium notice, even LIC disclaims that about issuing and receiving notice canot be the resons for delay in payment.
you are paying annual premium, then make anote in diary. or have a strong word to the agent to remainder. if he is not serving sent acomplaint about agents service.
Inspite of having somany policy in LIC for my family members, I am most satisfied with the service of Bajaj. now a days i strongly recommand them, when we received stelement in 21st day after a fatel death of my cobrother.
Regarding ny1902, problem,
If he has the valid reason, then he can go to IRDA, or consumer court. but the pre-exicting contition cannot be covered during the early policy days. that we have to accept. the treating hospital may tell that its not an existing one. BUt the insurance companies having thier own Docters team , to scrutinise the files. we have to explain them. the best option is to get admitted in network hospital to avoid such latral problems.
mine or thier...
experience differs.. we have to accept it.Read More
