I got this call from a Bajaj Allianz agent saying that I pay a premium of Rs. 50000 towards Super Saver plan for 5 years and I will get Rs. 4 lakh (guaranteed) at the end of 5 years. I was tempted because it turns out to be better than 10% per annum and that too tax free.
I would have fallen for it but for the fact, I looked up internet to see what people say about Bajaj Allianz and Super Saver plan. I could see that a lot of people are disappointed with Bajaj Allianz as a whole. When the agent called me to fix up an appointment, I asked if Bajaj Allianz would give it writing about this.
I am used to guaranteed products like fixed deposits where they clearly state the date of maturity and maturity amount. Then the agent said that out of the 6% guaranteed return, only 4% is guaranteed and the remaining 2% is market linked and as such Bajaj Allianz will not guarantee any returns on its scheme. Then I asked him not to call me with such offers in future.
Hopefully, people realise that there are a lot of misselling in insurance and companies like Bajaj Allianz tries to fleece gullible people with offers which they are not willing to guarantee in the garb of guaranteed returns products