[Resolved] Birla Sunlife Flexi Life Line — Total fraud ULIP product and should be banned | |||
As all we know ULIP is flop in india and companies are faking fool to customers. But all of you know biggest fraud ULIP product is provided by BIRLA sunlife and i am guarnting that no company in india can beat BIRLA. BIRLA is king of of product of losses and making fool of customers. Policy details: 1st year 2nd year 3rd year onwards Admin Charges 61% 7% 7% Cost of insurance 14% 43% 14% In above see admin charges is more than 60 % and in second year they increase cost of insurance to 43 % and they will continue to take more than 20 % throughout the policy. No company is able to give more than 15 % profit to its customer and they are taking more than 20 % from it's customer every year. I have losed more than 1 lac and i have to withdraw from this and have to bear this loss othervise 20 % amount of my primium will be in loss. Never take this ulip plan. BIRLA are pirates of market. Was this information helpful? | |||
Aug 14, 2020 Complaint marked as Resolved | |||
 7 Comments | |||
Comments
Totally agree. If you have a look at their AUM under this plan compared to their other ULIPs, we can see how they have conned gullible investors to the maximum as the this is the ULIP plan under which they have garnered maximum funds. Poor investors are sitting with huge losses, particularly those who started in 2006/07. I think the market has to double from current levels to get some return on this ULIP. Our main fault is that we got carried away by the agents' (read Citibank) sweet talk and did not read the small print. IRDA must do something to force BSLI to compensate the innocent investors. We can only lament now and learn our lessons for future. For those who have sunk money in this black hole - keep tracking the fund value and get out once it reaches your principal invested so that you can at least save that!
Reply
Also for those who haven't invested in ULIPs, stay away from such fraud schemes such as guaranteed NAV, Step-up ULIPs, etc. in general and BSLI in particular
I strongly suggest, PLEASE DON'T BUY ULIP from BIRLA or for that matter any Insurance from BIRLA SUN LIFE. They are Bogus, and want to mint money from the common man's hard earned money.
Coorect. Brila Sunlife is the biggest fraud in ULIP. I don't know why IRDA is not taking any action aginast them!
I invested in BIRLA SUN LIFE - FLEXI LIFE LINE in 2007 and have been paying monthly premium of 10, 000 per month
I request advise from fellow colleagues on what to do with this policy as I see it breaking even at the current market trend. I may not book any profit looks like but I want to cut my losses.
I got carried away by the Citibank agent in 2007 who assured me that this would help me build corpus fund.
Now I'm just waiting for the right time and advise to pull out of this policy.
Should I shop the premiums or let it continue till I decide to pull out from the policy. Default premium paying period is 15 years.
I have paid premium of 859997/- and my fund value is 8, 57, 431/-
I have seen it increase or come close to a break even in the last few months
Can someone please advise me.
I request advise from fellow colleagues on what to do with this policy as I see it breaking even at the current market trend. I may not book any profit looks like but I want to cut my losses.
I got carried away by the Citibank agent in 2007 who assured me that this would help me build corpus fund.
Now I'm just waiting for the right time and advise to pull out of this policy.
Should I shop the premiums or let it continue till I decide to pull out from the policy. Default premium paying period is 15 years.
I have paid premium of 859997/- and my fund value is 8, 57, 431/-
I have seen it increase or come close to a break even in the last few months
Can someone please advise me.
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