Yes Bank — max life insurance with name of investment

Address:	Mumbai City, Maharashtra, 400075
Website:	yesbank.in

I was sold with a life insurance from max life by yes bank executive in the name of investment. Name of the insurance was "guaranteed income plan". It's the most useless investment you can buy.

I was busy while getting the investment and paid the price for it. Yes bank executive (So called relationship manager) for my account of 7 years misguided me into buying it. Most of my specific instructions were violated.

I wanted a monthly premium/ecs investment. They made me subscribe to an annual one saying from next year it will be monthly. Blatant lie.

I wanted to return the policy any time to get my money back which i had paid. I was promised that this will happen after block period of a year. To my surprise, there is no way to get back my money.in every case i will lose significantly. Eg 70 percent after first year. 50 percent after 3 years. Just no way you can go this road u less you are broke and need this money urgently or don't have money to pay next premiums.

Last but not the least, the benefits are laughable. From 6 year onwards they pay back half the amount yearly to you. I paid 75 k yearly so they pay back 37 back to you in the monthly form. This happens for 5 years and then this amount is doubled for next 5 years. Means you are almost getting back what you had paid by 16 years, almost of no value.

I wanted an investment and was sold this insurance which is useless. Please help me get back my money.