What are the regulators doing to check such open loot. 16.5% as processing payment! ridiculous!. I made a mistake by buying the market plus policy of LIC in need reading the fine prints. Now paying the price. The insurance regulators or the government should compensate attention to this.
Answers: I am sorry that you have a reaction of being shortchanged.
It seem from your questions that you are a possibly educated personage. It was, surrounded by the first place your responsibility to ask the representative about the details of the policy - such as allocation charges, mortality charges, riders etc. Because few agents bother to explain these to prospective clients. (Because contained by most cases, the more he/she explains the more one gets confused).
ULIPs are a mix of Insuracne and Investment.
In my view LIC charges the lowest allocation charges.
There are some 15 (+1) insurance companies in India. Some even charge a 30% for first three years.
Now you own become a little more clever.
Next time when you are about to invest please consider some other option. There are other better options.
Keep Insurance and Investment seperately.
There is a clause contained by LIC's terms and conditions as "COOLING OFF PERIOD" -you can return your policy in 15 days of the receipt of the policy bond.
The fine point is - by the time you receive the bond it could be months.
So Cheer Up !
Good luck
u are right. u hold paid the price for not reading the expressions and conditions carefully. for your information same item is being done by adjectives mutual fund ( ulip ) companies. The regulator for this is SEBI and they are aware of it. So, we can presume that all this is one done within the experience and approval of government of India. Yes they do charge a processing fees. There are other charges on ULIP plan offered by pvt insurance as well LIC. You can invest within Mutual funds where the charges are deeply less and returns are immensely high. You can pop in www.investorcamp.blogspot.com for articles and guidance on mutual funds
I totally agree with the previous answers that you enjoy actually compensated the price of not reading the terms. You hold perhaps be mis-informed by the agent and not LIC. The company has this mentioned clearly on adjectives brochures of market plus. Moreover, it is not surrounded by an invisible font size, it is quite clear and big ample for normal visibility.
I own designed certain solutions that can bequeath you returns similar to that of ULIPs without equity investments. These too will be plans from LIC, but I will surely inform you more than what you know in your previous experiance.
For further query you can call me on 09322197831 or e-mail me on bhushansheth(a)hotmail.com and bhushansheth(a)gmail.com
Answers: I am sorry that you have a reaction of being shortchanged.
It seem from your questions that you are a possibly educated personage. It was, surrounded by the first place your responsibility to ask the representative about the details of the policy - such as allocation charges, mortality charges, riders etc. Because few agents bother to explain these to prospective clients. (Because contained by most cases, the more he/she explains the more one gets confused).
ULIPs are a mix of Insuracne and Investment.
In my view LIC charges the lowest allocation charges.
There are some 15 (+1) insurance companies in India. Some even charge a 30% for first three years.
Now you own become a little more clever.
Next time when you are about to invest please consider some other option. There are other better options.
Keep Insurance and Investment seperately.
There is a clause contained by LIC's terms and conditions as "COOLING OFF PERIOD" -you can return your policy in 15 days of the receipt of the policy bond.
The fine point is - by the time you receive the bond it could be months.
So Cheer Up !
Good luck
u are right. u hold paid the price for not reading the expressions and conditions carefully. for your information same item is being done by adjectives mutual fund ( ulip ) companies. The regulator for this is SEBI and they are aware of it. So, we can presume that all this is one done within the experience and approval of government of India. Yes they do charge a processing fees. There are other charges on ULIP plan offered by pvt insurance as well LIC. You can invest within Mutual funds where the charges are deeply less and returns are immensely high. You can pop in www.investorcamp.blogspot.com for articles and guidance on mutual funds
I totally agree with the previous answers that you enjoy actually compensated the price of not reading the terms. You hold perhaps be mis-informed by the agent and not LIC. The company has this mentioned clearly on adjectives brochures of market plus. Moreover, it is not surrounded by an invisible font size, it is quite clear and big ample for normal visibility.
I own designed certain solutions that can bequeath you returns similar to that of ULIPs without equity investments. These too will be plans from LIC, but I will surely inform you more than what you know in your previous experiance.
For further query you can call me on 09322197831 or e-mail me on bhushansheth(a)hotmail.com and bhushansheth(a)gmail.com