I had visited the IDBI bank for FD( for Income tax benefit reason), but the representative got success to trap me for making me agree for insurance policy rather than FD, I said that I can’t pay premium on regular basis therefore I am going for FD, he convened me by saying that even DF can’t be withdrawn before 5 years, whereas the insurance policy which he suggested( incomesurance) can be withdrawn after one year.
It is now two years passed since I purchased Policy( paid two premiums of 50 thousand). Now I have opted for a home loan and don’t have capacity to pay policy premium. When I sent a mail to customer care for providing the information about withdrawing the policy, after long time they sent me surrender estimate that shows I will get about only 60 thousand( whereas I paid 1 lac so far as premium).
I have been now trying since last one month to get the details why there is a huge difference in surrender amount( 60 thousand) vs premium( 1 lac) I paid( sent almost 3-4 e-mails to customer care, thrice tried to call) but no success yet( customer support on phone doesn’t know details about surrender amount and says to send e-mail but when I send e-mail they every time just sends the surrender estimate which just shows surrender amount and no other details).
Such Ridiculous customer support.