Hey everyone
i am writing this review based no my kowledge of the subject of insurance and that I think is fair enough for I am a finance analyst.
moving to ICICI I would say they are all theives because well first of all does anyone remember the raid the IRDA ordered on ICICI????? well yes, it happened in 2005 and y??? because the company had 450% loss ratio?????? I think that’s a pretty sorry state of affairs to function.
secondly for anyone who is going to buy a product from ICICI I think its time we had some calculations at hand.........
for all whole life products, the company’s administrative expenses alone are 18% and then the commission to the agent is almost 30%. thus assuming that for every lakh of the premium the policy holder pays, alomst 18000 goes to the company and 30000 goes to the agent. this means that the money left to be invested is 52000 and out of this, about 2800 to 5000 is sent to the investment team as their fees and this means out of one lakh only 50000 is actually invested. do u think it is fair????????
i mean half the money is kept by the company itself
and yes all those people who are taking the agents’ commision back must remember, it is against law and one look by the govt and everyone, including the policyholder gets sued!!!!!
so guys just watch out before u start investing with ICICI and oh and yes, those 40% and 50% returns that they gaurantee or show or illustrate are totally fake. don believe me?????? well all u have to do is multiply ur NAV with company’s stock hold available in any newspaper and u shall have an avg, if not accurate account of ur money.
so be vigilant. it ur own money people.
good luck and god bless.