Jun 08, 2007 05:56 PM
5826 Views
(Updated Nov 17, 2008 02:50 PM)
My self from bangalore .One of my frinds was in TAT AIG agent His name was Tibu .K. Oomman .The agent based on the Prior Relationships biased me to join an Insurance Policy (Invest Assure)with Tata-AIG with policy number U310054131 with a One lakh premium yearly(2200 USD Aprox). I signed the application policy on the 10th October 2005 and gave the cheque for the first premium of 50, 702(half the premium) .Next month on 12th November 2005 I got a post from the Company (TATA AIG) with the brochure(policy documents) enclosed and to my shock I found that They are planning to deduct 42% of the premium for the first two installments and then on 25% of the premium for next two installment as admin charges which eventually goes as agent commission .This facts were tactically hidden from me I was bit late to find myself in a Trap This was not at all mentioned by the Agent at the time of signing the policy. I feel cheated .
One more thing what I wanted to share is the clouser charges after the locking period of three years.This is way high 24% can you imagine that?? .Now my account banalce is 110000 after paying more than 3 lakh till now I would be getting around 70K at the end .I curse the fateful day when I met The TAT AIG agent .Good that AIG is bankrupt ..Even TATAs also should face the same fate someday and agent he should die a beggar !!!
I request people not to go for TATA policy at any cost
