Dear Friends,

I have came across several cases and complaints among my friends whereby the insurance companies have cheated them , they had been promised of a good return in 3 years but the returns were not as decent as promised and in some case the returns were even -ve, they were promised to pay the money just for one year but now they came to know that they will have to pay for at least 3 years or else they wont get even a single penny irrespective of the amount of 1st premium...I donot undesrtand why we always blame others? Why we donot understand and read everything carefully before putting our hard earned money ?? why do we easily get trapped in the advisors' or for that matter insurance employee's (sales person) sugar coated language.. I guess , it's because we all want to believe easily on any thing which we like!! It's high time now!! we should understand that it's not the advisors or the insurance companies who would decide our fincacial goal and finacial planning... I would suggest all of you to keep in mind the following points before purchasing any policy :-

First thing first , read the proposal form and prospectus of the policy carefully, and when I say "Read", it meand READ EACH AND EVERY WORD. Donot take any thing for granted.

No-2 :- Have a clear cut understanding of where ur money(Premium) is going to be invested and how much it's is actually being invested, after all it's ur money. I mean to say , have a clear cut understanding of the following charges which would get deducted from ur premium:-

a) Premium allocation charge

b) Policy Adminstration Charge

c) Fund Management Charge

d) Mortality charge

e) other miscellaneous charge

Do choose a policy where the total charge is least. you wont believe but there are few policy (like birla flexi plan, kotak's flexi pna, etc) where the charges are as high as 65 %, meaning that if you are putting 10 k in a policy, ur 6500 rs would be deducted for all the different kinds of charge and only 3500 rs would be invested in markey which further means that it would take about 7-8 years in reaching breakeven ,forget bot return

Please do consider the surrender charges also, i.e , how much money would be deducted if you close the policy. Donot ever go by the words of the sales person when they say u will have to put money just for 1 year or 2 years , check everything ur self as it's ur money (of course , there are few single premium plan where u need to pay money only once, but find out ur self instead of listening to advisors and believing their each and every words)

Check the illustration chart and other documents carefully

Last but note the least, fill each and everything in the proposer form ur self instead of just signing the documents at the place cited by ur sales person or advisors.