Jan 23, 2017 05:53 PM
33527 Views
I was introduced by one of my colleague who was also working in this trap maker. I invested in a ULIP with a Rs 1500/- PM and minimum payment period of 3 years. I was informed that I need to pay for 3 years only and the policy maintenance charges applicable for the payment period as the unit allocation will be done during that period only. But I was horrified to learn after three years that they will keep on charging it until you redeem the policy. Now after paying them Rs 54000/- for three years my fund value was Rs 46000/- and they kept selling my allocated units for their policy management charges.
More surprising was that they didn't allow me to redeem it until I visit them with complete paper work in a working day from 1000 hrs to 1530 hrs which I could not do for 1 complete year due to my job and only available on Sundays.
They never disclosed me these things at the time of selling the policy to me and not even called me to confirm as buyer of the policy.
Customer service is pathetic as they have been trained to trap and misguide.
Claim settlement is horrific to say the least.
Policy management charges are open loot.
They have plenty of Honey Traps in terms of lucrative Plans but they never tell you the hidden daggers.
Staff will be ready to bring the stars for you as long as you are a possible buyer. But the moment you buy it they will start ditching you.
Be-ware of these honey traps!
