Like others here, I too was conned by Citibank investment advisor to buy BSLI Flexi Enhancer policy. The first year 65% of the premium went into either citibank’s pocket or BSLI’s pocket. I dont understand what IRDA is doing. After paying them 1 lakh rupees in premium over 20 months, I checked the current value of my holdings on their site, which was 56000.
I went back to the policy and read it line by line to find some exit options. Looks like there is no way to exit without loosing some more money (23k as closure charges). So if I terminate this policy now, I will get only 23k in hand (I will loose more than 75k). If I stay with them, I will loose anyway.
My advice to anyone reading this blog is, please stay away from Birla Sun Life. It is the biggest con company of our times. If you can’t avoid BSLI, at least stay away from "Flexi Enhancer/Flexi Secure" etc. There is nothing flexi about it.