It is a bundle of COLLECTIVELY wrong practices across. So your one or two experience can be bad but when customer have a chain of bad experiences it signify a wrong SYSTEM itself i.e. what reliance insurance is.
I made mistake as a young customer in his first job and out of so many false promises made by the agent, invested in 2008 in equity linked insurance plan and alas .after 4 years and investing 60k my net value is 42k! 30% less than the sum invested that too in 4 yrs .and let me remind everyone my other investments made in the same timeframe in different companies are making at least 10-15% profit against usual blame of recession and bad market conditions
Adding to that when I want to get my premium recpt portal is down(3 times in a week!) .further more customer care cant email it as their server is down either! they don’t know when will it be up & running. If you want to get an e statement .their calendar shows 2012 as 112 and then it does not accept the entry by itself!
Phew . could not stop laughing at my own mistake of buying insurance ignorantly from them and yes .that agent is no more on radar. with no details filled in either on the website where’my agent section’ is completely blank!
And yeah they are brave enough to say that 5% surrender charge is applicable even after locking of 3 yrs so I cant exit till 6th year if I want to save this 5% and can exit only after completing 5 years!