May 29, 2013 06:36 PM
9233 Views
(Updated May 29, 2013 08:45 PM)
The sales guy who approached me via Citibank was the most unethical guy who sold me this policy and used all his knowledge to dupe me. I feel like filing a police complaint against him. He did not tell me the charges that was embedded in the policy and neither did he tell anything about the conditions
I had taken a policy where I had to invest 5000 every month. However what I did not know was that over 25% of the amount would be charges and end investment would only be 75%. He did not tell me this.
I work in Pune. However my permanent address is in Hyderabad. So this guy have my Hyderabad address as the correspondence address and thus I could not even see the documents during the stipulated time of first 15 days. Now even if I want to withdraw its not possible since its a 3 year lock in and the penalty is huge. It practically wipes out my savings. Whats more I cannot even withdraw in 4th and 5th year - Only saving grace is that I need not pay.
Until now on an investment of 171000 my portfolio shows 112000. Even if you remove the charges of 37500 still the returns are negative.
DON'T EVER INVEST HERE if you want your money to grow. FD is the safest way.
My policy no is XXXX54311 for those who feel that I am just spoiling Birla Sun Life's name. BLSI reps please check out. You will understand my pain.
