In 2005, I bought a product Aviva Life Long Policy Number LLG1143974 and paid annual premium of Rs. 15, 000 I recently went to surrender the same. I was shocked to hear that there is a 30% charge on the fund value as a surrender charge.
This is complete highway robbery after paying 6 years premiums. Also The customer service is pathetic. I decided to cut my losses and surrender the policy, I was told that in 7 working days my policy will be surrendered and the fund value given to me. I gave all documents on 23rd February 2011. Till 10th March I have done repeated follow ups with AViva Customer service but to no avail. The customer service officers are just puppets with no control or no authority. I STRONGLY RECOMMEND ALL AVIVA CUSTOMERS TO EXIT THEIR POLICIES AND SWITCH TO BETTER MUTUAL FUNDS.