Bajaj Allianz — FUTURE PLUS scheme

The agent who visited promised me 12 to 15 % annual return on my investment and told me that I need to only pay once and I paid 1.5 lakhs. But almost after one year, i checked the fund and noted that instead of getting a return, my fund value became about 1 lakh. Straight away loss of 50k. Its a huge loss for me over a period of 1 yr.

Upon contacting the company I was told to continue to pay Rs. 1.5 lakh per year for another 6 years and that i will get better return.

This is utter cheating. Why should I continue to loose 50 K per year?
Please do not fall prey to such cheating.