I used to deal with an investment agency called Bajaj capital. They adviced me to buy Aviva life insurance (I have stopped dealing with them since). I was putting about Rs 40, 000 per year for 4 years and now stopped. The reasons is that, on looking at the growth of the fund in 4 years. The 1.6 lakhs I invested looks great on paper (NAV) it is now worth about 2.3 lakhs.
But recently when I called them they said they will cut 18% of the NAV as adminsitrative charge. This is even after I satisfied the minimum 3 year limit. I consider Aviva cheating and misrepresentation to the customers. I have enquired with friends who invest in ICICI and their admistrative charge is very modest . I request people to completely avoid these cheating people. They say adminstrative charge will be zero after 10 years!! But who knows what excuse they will say after 10 years? I withdrew my money.