Bajaj Allianz Insurance products are like a scam, they claim to give you the best of Insurance and Mutual fund but give you the worst, they just give you 5 times life cover whereas in term insurance you can get over 50 times at much less amount, also with regards to the unit linked investment, I was just comparing it with my mutual fund investments, the return on ULIP investment is around 2-3% only whereas in Mutual fund it is upto 15%. After investing more than one lac, I wanted to withdraw, they told me that I should wait for 3 years and then only I can withdraw, then after waiting for three years, The company people have told me that if you withdraw now, you have to pay penalty of 1 years premium, ie almost Rs 36, 000 before the 15 years maturity.
Advice is AVOID AVOID BAJAJ ALLIANZ LIKE AIDS.