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MouthShut Score

16%
1.31 

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Verified Member MouthShut Verified Member
Distt.- Udham Singh Nagar India
Money Maker for Itself
Jan 23, 2017 07:23 PM 28856 Views
(Updated Jan 23, 2017 11:57 PM)

Customer Service:

Claims Settlement:

Premium:

Range of Plans:

Staff Attitude:

I bought company policy through one of my close relative who was just become Manager in company so there wasn't mush of a doubt about the safety of the money. Infect he himself was not quite aware of the business model of the company.


Having total faith in the same due to my relative's word, I even gave an electronic mandate for the Quarterly premium of Rs 2500/-. I didn't even bother to go through the policy papers.


Everything went smooth but after 3rd Premium paid, I came across the details of the policy management charges of my policy and shocked to know that almost 45% of the premium was paid for the policy management charges.


I was never informed about such policy maintenance charges applicable and than I called the customer care and they came out with flying colors. They kept assuring me but did nothing. By the time I approached my bank to stop payment, 5th installment was paid and they eaten almost half of my money for their policy management charges.


Then they started giving excuses like the lookout period is over and I'll have to continue for 01 year if I want any amount back. I had to fight long battle to get my money back.


Customer service is very nice till you are a prospective buyer but the moment you buy then everything changes as they have to look for the next buyer. That's their job.


Claim settlement is also not satisfactory as there are numerous incidents of malpractices.


Rate/Premium is too high. Though they are applied in such a manner that they will show you as they are charging meager amount.


They are not trained to advise you for redeeming your money but to keep you invested with them through wide range of their lucrative plans. Which they surely have plenty.


Staff is always very well trained and prepared to keep you invested. And that's their job as they are well paid for that only.


They promise you to multiply your money but its always them who make money!


So friends apply your mind before buying/investing. Look out for hidden/untold charges.


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