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Filed 1 Months ago by madhuka...

CSL 2.41

I have bought a single premium (Rs 1 lakh) 10 year policy Flexi Cash Flow Plan (policy numbey number- 000003164) which offers a minimum guarantee of 3% on the investment net of all charges over the entire term of policy. Now they are deniing the total fact and telling me some other benefits. I last contacted Chief Grievance Officer CGRO Birlasunlife.com wiith the following text. Please find hereunder the response I received from Custmer service, which is at all not agreeable to me. Still, my question is what is the significance of a Minimum Guaranteed Return of 3 promised in the policy document handed out to me. This is all garbage from Customer service still talking about unit value and investments subject to risk of unit value fluctuations. This is not mentioned in the policy document. The company informed me like note that the premium paid towards Unit Linked Life Insurance policy are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of Investment Fund and factors influencing the capital market. Hence, maturity amount of Rs. 74, 055.38 depends on the fund value of the maturity date and the same was paid to you. But this is completely unfair. I want them to give a maturity amount cheque of Rs 74055.38 paisa (negative return of 26 per cent).

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