Aug 26, 2010 03:41 PM
4238 Views
I am one of the several victims of Bajaj Allianz. I wish I had studied few reviews on mouthshut before I invested, just proceeded with the trust of brand HAMARA BAJAJ and fell flat on my face.
I invested 50K(as 2 YoungCare policies of 25K each) in Oct 2009 for a 5 year term. They have eaten off 60% of this i.e. 30K as financial charges and invested 20K in the market. Guess what, by August 2010, the 20K was worth less than 14K.
They had the audacity to ask me to continue investing 50K/year for next 4 years. I decided I am much better off writing off the 50K as bad investment rather than loosing another 2 Lacs.
The silver lining is that, after 3 years, I get back my investment alone at the market value at that time. Considering their expertise at loosing at 30% per year, probably it will be worth 7K. Great way to loose money. Isn't it?
