[Resolved] Aviva Life Long Policy — Aviva Cheat | |
I have a Aviva lifelong policy LLG1205141. I have started this policy on 14th feb-2006.There agent told me that i have to deposit only three premiums. After that it depends on u to continue the policy or stop paying premiums. I have deposited three premiums(rs. 25000/- per year). In fourth year i stop it, Then they have done in paid up mode & deducted approx 72% from the fund value. Please suggest us that could i get the advantage of new IRDA rule( no surrender charge in fourth year) & how can i get my deducted money. Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 26 Comments | |
Comments
I have also cheated like this. Please let me know how can I get my money back.
Reply
Even I have been cheated the same way...This is all hard earned money that we are investing in AVIVA...leave the benefit part...but After 3 years when we are trying to get our money back...its just 50-60 % that I'm getting to what I have paid so far in the last 3 years...
Please suggest how we can go back strongly to Aviva and atleast get our money back with the std interest rate that was commited to us..
Please suggest how we can go back strongly to Aviva and atleast get our money back with the std interest rate that was commited to us..
Yes I realised this today when I called up Aviva toll free no.
I have 4 paid up premiums on Rs 50000/- each in Life long policy started in 2006 and I was clearly told lock-in period is only 3 years after than I can withdraw fund value. Today I am told I have to pay for 37 more years (my age is 48 now) to get fund value. This is pure cheating - The agent is a reputed bank.
I am told that if I stop paying premiums only some 70 pc of todays value will get invested in to to the market.
Interestingly I was told that switching funds is free 3 times a year but what we find is Aviva charges some 1% everytime I switch the fund and every new investment is invested as per distriburtion agreed during first investment makign it compulsory to switch.
If I withdraw now I hardly get 60 % percent of what I have totally invested.
We need to contact IRDA and do something. Doies anyone has teh IRDA email id.
Subhash
I have 4 paid up premiums on Rs 50000/- each in Life long policy started in 2006 and I was clearly told lock-in period is only 3 years after than I can withdraw fund value. Today I am told I have to pay for 37 more years (my age is 48 now) to get fund value. This is pure cheating - The agent is a reputed bank.
I am told that if I stop paying premiums only some 70 pc of todays value will get invested in to to the market.
Interestingly I was told that switching funds is free 3 times a year but what we find is Aviva charges some 1% everytime I switch the fund and every new investment is invested as per distriburtion agreed during first investment makign it compulsory to switch.
If I withdraw now I hardly get 60 % percent of what I have totally invested.
We need to contact IRDA and do something. Doies anyone has teh IRDA email id.
Subhash
Yes I realised this today when I called up Aviva toll free no.
I have 4 paid up premiums on Rs 50000/- each in Life long policy started in 2006 and I was clearly told lock-in period is only 3 years after than I can withdraw fund value. Today I am told I have to pay for 37 more years (my age is 48 now) to get fund value. This is pure cheating - The agent is a reputed bank.
I am told that if I stop paying premiums only some 70 pc of todays value will get invested in to to the market.
Interestingly I was told that switching funds is free 3 times a year but what we find is Aviva charges some 1% everytime I switch the fund and every new investment is invested as per distriburtion agreed during first investment makign it compulsory to switch.
If I withdraw now I hardly get 60 % percent of what I have totally invested.
We need to contact IRDA and do something. Doies anyone has teh IRDA email id.
Subhash
I have 4 paid up premiums on Rs 50000/- each in Life long policy started in 2006 and I was clearly told lock-in period is only 3 years after than I can withdraw fund value. Today I am told I have to pay for 37 more years (my age is 48 now) to get fund value. This is pure cheating - The agent is a reputed bank.
I am told that if I stop paying premiums only some 70 pc of todays value will get invested in to to the market.
Interestingly I was told that switching funds is free 3 times a year but what we find is Aviva charges some 1% everytime I switch the fund and every new investment is invested as per distriburtion agreed during first investment makign it compulsory to switch.
If I withdraw now I hardly get 60 % percent of what I have totally invested.
We need to contact IRDA and do something. Doies anyone has teh IRDA email id.
Subhash
Never opt for Aviva as it's biggest cheater I have ever seen. After paying premium for 3.5 Years of amount 1, 40, 000/- the fund value is 1, 39, 253/- less than what I paid so for. And by seeing their poor performance when I opted for surrender I came to know that the surrender amount is 67000/- 48% of fund value.
I would only say they are biggest cheater.
Can anybody tell how to recover my fund value from Aviva.
I would only say they are biggest cheater.
Can anybody tell how to recover my fund value from Aviva.
Never opt for Aviva as it's biggest cheater I have ever seen. After paying premium for 3 Years of amount 300, 000/- the fund value is 290000/- less than what I paid so for. And by seeing their poor performance when I opted for surrender I came to know that the surrender amount is 1, 55000/- 51% of fund value.
I would only say they are biggest cheater.
The govt. IRDA has come with new guide line, whereby the surrender charges are barred after 5 years of policy. Is it of some help?
I would only say they are biggest cheater.
The govt. IRDA has come with new guide line, whereby the surrender charges are barred after 5 years of policy. Is it of some help?
Similar case here. Bought Aviva LIfelong policy and have paid 4 annual premiums. Now they are paying only 50-60 % of the total amount invested.
Please let me know if you guys are already taking some action on it.
Or Lets form a group and file a compliant in Consumer Court as the policy is not mentioning accurate information on surrender charges,
Please let me know if you guys are already taking some action on it.
Or Lets form a group and file a compliant in Consumer Court as the policy is not mentioning accurate information on surrender charges,
I HAVE INVESTED Rs.50000 ON 08/06/06 BY GIVING TWO PREMIUM BUT DOES NOT CONTINUE.NOW COMPANY IS REFUNDING ME ONLY Rs.8000.THE BIGGGGGGGGGG CHEATER
I was also cheated like this by an agent from Mangal Keshav Group, Mumbai He told 3 years will be the locking period.so I had invested 75k for the past three years.Now Aviva People telling that i will be only getting 30k if i am trying to surrnder.the policy now .otherwise need to pay till 10 years for nil surrder charge.Please tell me any way to escape from this trap
DONT GO FOR AVIVA WITHOUT CAREFULLY READING THE DOCS. ITS HAS LOTS OF TRAPS.
DONT GO FOR AVIVA WITHOUT CAREFULLY READING THE DOCS. ITS HAS LOTS OF TRAPS.
Even i'm cheated in the same manner. I have invested 200000/- over a period of 4 years, now if i surrender, i will be getting only 1, 38, 000/-. This is pure cheating. We all should take severe action against AVIVA. I'm Totally frustrated and will defenitly take appropriate action on the same.
I AM 48 YEARS OLD.I HAVE THREE CHILDERN.I TAKE LIFE LONG POLICY IN 2006 .150000/RS. GIVEN.AGENT SAYS AFTER THREE INSTALEMENT YOU GET.250000/ NOW 2010 THE TOTAL VALUE IS NOW 75000/RS. I REQUEST MR. SUKHBIR SINGH BADAL.HON. DY. CHIFE MINISTER PUNJAB.PL.STOP THIS CHEATING.AND NESSARY ACTION AGAINST AGENTS
THANKS. AMARPREET
THANKS. AMARPREET
I have invested Rs1, 50, 000 in the said plan and have landed up in a surrender value of Rs 73K.. May I know as why there was a false commitment from the agents in Aviva that the premium payment term is 3 years and can be withdrawn any time after three with the fund value like all other ulip plans...
An exit load of 77% if surrended after 3 years... Can you justify?????
An exit load of 77% if surrended after 3 years... Can you justify?????
Pls. don't go for any AVIVA Policy. They are providing the worst service and cheating the customers. I personally advice pls. don't go for any AVIVA Policy. I'm also one of the affected
guy & no resolution till now. The Agent from ABN AMRO told me that the policy is haiving the
lockin period of 3 years but now they are saying i need to pay for next 30 years.This is stupid.
Even in my document also 30 years is not been mentioned.
Pls. avoid to go to AVIVA for any relations...
guy & no resolution till now. The Agent from ABN AMRO told me that the policy is haiving the
lockin period of 3 years but now they are saying i need to pay for next 30 years.This is stupid.
Even in my document also 30 years is not been mentioned.
Pls. avoid to go to AVIVA for any relations...
Its TRUE
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