Jan 15, 2009 03:51 PM
4176 Views
Hi,
I had taken Birla Sun Saral Jeevan policy on 17-Jan-2008. I had paid premium of 25000 onetime payment. On Jan 2009 the fund value become 4000/-. Can you believe it, a loss of 85%. If I had given tax to the Govt then it will be 20%.
This is the worst policy I am ever seen. Compared to any of the ULIP product of it’s kind, it has the highest charges. They have deducted nearly 10000 rupees for cost of insurance. And it is applicable for first 3 years. They will say 100% allocation of your premium. It's just a marketing gimmick. Just see the admin charges and mortality charges. It's too high.
For the first three yrs what ever you pay they will deduct 40% of that on name of cost of insurance. That means if your premium is 25k, then they will take nearly 30k for insurance for first three years and then after 1500 rupees every year. And that also for 2 lakh 70K of sum assured. If you had paid this amount for term insurance then you can get 10 lakh of sum assured.
Don’t believe in Birla products, the fund managers are worst.
If you want investment please go for Tax saving mutual funds, like SBI magnum. And for insurance you can go for a term insurance.
