If you have a plan to go for an investment and if you are lucky enough you will read this review and if some one wants your dear and nears to be benefited please forward this review and spread it as much as possible.
Before I start off with the review I have tell about my attitude, i am not a complaining person nor pessimistic person (You can read all my reviews in this website), nor the one who expects to treat me a valued or special customer, all I expect is "Just do your Job"
Now coming to the review, on october 2005 when I was busy working in my office, I happened to notice my phone ringing with my fav ringtone, i noticed an unknown number and thought of disconnecting the call, but since I pressed a wrong button (My first mistake), the phone was swicted to loud speaker instead of busy tone.
I heard a sweet female’s voice started with hallooo..!!Ah..!! inspired with the mesmerising voice made me answer the call, the sweet voice was talking about a company named "TATA-AIG" products.
At age of 22 having no attitude to invest the female told all the advantages of investment, though i have no idea of going for an investment the glamor in the voice made me surrender to the company, to whom i have to pay 28k/yearly, for which I was promised to get returns of 2.8 lakh after 3 years, the voice made me believe them.
With all my dreams above my head, I made my first premium on 12 oct 2004 for Rs.6461 (Quaterly mode) which got cleared on the same day from my account, but never recieved my policy for 18 days, finally my sister who is a banker called them and blasted for not sending the policy (Later on I got much more for taking the policy with AIG), success came after 2 days with my POLICY Number :U310033686.
I requested them to take further payments from my credit card and gave them a credit card authurisation form and the payments was on perfect timings but never recieved any recipt, now I took over the charge called customer support, shouted, begged, cried and finally they sent out my statements for 4 dues after 12 months.
Then I got bit matured and started looking at the market closely and i happend to go through my LIC policy that is paid by my father for me for 15000/year the fund allocated to me was 13750 which was found to be increasing every year and also found all the reciepts in the second day when the money was paid,
Out of curiosity I was checking my sisters ICICI prudential the fund value allocated for 36000 was 33, 8800, when I asked her about the receipts she logged into the website and took the printout of premium reciepts in 3 minutes WOW. The receipt had all the information how much units was allocated premium paid, admin charges, how can you share your fund etc...Very descriptive and informative
Now being more curious i want to know what is the fund and unit that is allocated to me when I called the AIG people no one knew what I knew, finally after getting the call escalated to one of the manager Mr.Ram Kumar, he said he would check that and will send the statement within 3 days which never came once again after giving a touch time to them with my calls they sent me the statement, eagerly I was going through the form, you know how much unit they allocated to me, peanuts Rs 8750 for 25k I have paid, Shock...!!
After my blasting to them they just said "IT’S LIKE THIS SIR", agreed its my fault not going through the policy when it came.
Now came the financial year where I have to show the investment to my company for tax benifts, i started calling them from jan6 for my policy statement, sent email to Mr.ramkumar, deepthi.agarwal who were top officials the mail got bounced when I enquired they left their Job (LOL).
I was waiting for more than 100 days but my friends were so cool, they took prinout in five minutes for their premium recipts by just logging on to their respective company sites, i was only the helpless one, getting agrrevated I called and blasted them finally they sent out the recipts on 105th day that too not via post but through email..i ended up ignoring this investment in my allocation form then later claimed through my form 16
Unfortunately I lost my credit card, called them informed them I have lost the creditcard so I requested to take down details of my new credit card, the answer was "NO", agreeing to the security fact I walked into their office, gave them a formal complaint gave my new credit card information, but the information never got updated though 4 quaters passed, everytime I call for paying my premium they send out courier person to collect my cheque, but asusual never get the recipts and the story continues for getting the recipits.
Getting more and more agrevted I spoke to one of the chair person in mumbai Mr.Patel, when I was asking him about options of online payments and online recipts the same old answer that came before 2 years, "we are in the process of doing it sir"
When asked about the premium recipts, it was told that courier company was changed now inspite of complaints that flooded, Being bit satisfied with the answer I paid my next premium, now definitely there was a change instead of fighting 7 or 8 times I started fighting 15 - 20 times for my recipts.
My phone bill was higher than the premium.
After 3 years struggle I decided to end up with them and called them to collect my cheque they said they stopped the courier services and I have to drop it in a drop box, i dropped the cheque on oct 15th and the cheque got cleared on 22nd, when I called them on 24 th they said it is not showing up in their records.I gave them cheque number faxed my bank statement but still they say "No, we havent got it.."
Still I am figting with them to make them accept they have recieved the money, but I am going round and round the last person I spoke was suzan (Emp No: 1510) who was the chief manager but still ending up no where.
The allocated space will not be sufficient if I continue with my stuggle as my hands are paining.
My dear friends PLEASE for heaven sake never invest a single penny with tata-aig, they take the premiums from you just to make you a good fighter but nothing much.
Before I close one last information, for the investment of 85 k I made you know what is my returns hold your heart Just Rs.72, 815 (less than the premium I paid)