Huge charges:
I took Dream plan in 2009. Premium was 45000 annually. I have paid 2 premiums. and now my fund value is 74000. I have lost 16000/- on various charges levied by them.
Incompletent fund manager:
The fund value has increased from 31 to 33 in 2 years, which explains the kind of func managers they have employed.
Fraud staffs:
While taking the policy, I had been told by the lady manager, that there are no charges. I was a layman that time to get trapped in this policy. every month they deduct 1k from my account, on various charges.
Can’t surrender:
Many times out of frustration, I thought of surrendering. But the surrender benefit before 3 yr is negligible. I may get only 40% of what I have paid so far. Even if I surrended after 3 years, I will be in loss, as they have deducted the maximum amount in these 3 years. I have to keep paying till my fund value equals to my invested amount, which may come in 5-6 years.
If you want to save yourself and your money, then please dont go for any plan related to Birla Sun Life.