Hi, I am a user of Birla Sunlife ULIP Policy. I had been cheated by the agent to the greatest extent possible. I asked him about the policy and charges at the beginning itself and he told me its all 100% allocation and nominal charges. Even after noticing that the policy is not benefitting me after a year i had been told that its gonna help in long run after second year they gave up hope and said its going to go in loss and now they are saying i cannt discontinue paying for it even after 3years either or the policy will lapse and i will have to pay the surrender charges unless i pay for 20 years. I told the agent that i cannt continue the policy after 3 years as i might get back to study so i would discontinue the job. Now the agent is no more with the company although he stopped attending to my phones and never called me back whenever i reached him either.
I recieved a call from the Bajaj Capital which are related to them somehow about my policy is already lapse due to non payment and when i checked it then it showed that the premium is getting deducted from my account regularly.
NOTE:- One of the employees of Birla Sunlife today told me to bounce one cheque to stop the ECS. And when i said its illegal and i would be paying for the penalty. He said it is the procedure and then he was not interested in entertaining my queries and then refered me to someone else and He said that i should have read the policy documents before while even their agents dont know the policy by themselves...
I really am cheated a big time here and I do not have family responsibilities so i can bear with this FRAUD but PLEASE DO NOT TALK TO ANYONE FROM BIRLA SUNLIFE AT ALL AND HANGUP ON HIM IF YOU DONT KNOW HIM...
Ashish