I got the smartkid ULIP from ICICI prulife in 2007. After putting in 42000 rupees @ 6000 every 6 months I realised that it was not as good an investment as it was being made out to be. I was losing money fast. They had high premium allocation charges.
At the end of 3 years I was left with less money and as there is a lock in period, they would deduct even more money if I close my policy. What a smart way to fool.
I asked their customtakeouter service agent and he blamed everything from the stock market to me. I surrendered the policy and lost even more money.