- I lost my investment in Birla Insurance plan ^Open

Shaji Chacko filed this complaint against Aditya Birla Finance on May 29, 2019

Me and my wife joined Birla life vision plan by paying **** each every month. In three years we paid *.* lakhs each. There was a * year lock in period and after which we were told that we can exit the plan with accrued bonuses at the rate of *% per year. So we expected to get around *.* lakhs each at exit. However when we approached them they said we will get only about **% of my paid up premiums without any bonuses. We cannot afford to pay **K each for another ** years. I have lost my job and am in need of money.Hence we decided to exit and was told that we will be getting **K each from them in place of *.* lakhs each

We feel completely cheated by Birla life insurance. They say it is a life vision pan, but is a life killer plan. You can never speak to their customer support person as their toll free number has got only automated messages. The branch manager at their Jayanagar, Bangalore branch was not ready to meet me as he was always busy and I could speak only to their executive to settle the account. I am heart broken that we lost close to * lakhs in our two accounts and got *.* lakh back after * years of putting our had earned money at the rate of **K every month. You know how it feels like putting **K each for * years and getting *.* lakh after * years. I am having jitters at night of thinking how I was cheated by a company which I thought was trust worthy. Please help.

This company is the worst of all financial companies. Please don't be fooled by the nice approach of their agents who will convince to join their plan and unless you want my fate. What they say is not want is there in the plan, there is always the fine print which is mostly not readable. You know how it feels like putting **K each every month for * years and getting *.* lakh after * years. I am having jitters at night of thinking how I was cheated by a company which I thought was trust worthy. Don't join any of their insurance plans unless you are sure to die. With their approach, I am not sure even if you die, your nominee will get any survival benefits. You will anyway die of shock when you realize what you will get in return.

I feel lakhs of people are getting duped by Birla life Insurance company like this and losing their hard earned money. They should not dupe people who want to save some money for their retirement purpose. I will be tahnkful for any action taken to ensure company return at least my investments without interest. We have submitted our surrender forms at your Jayanagar, Bangalore Branch yesterday.

Birla life Policy Nos: *********, *********
Cleint IDs: **********, **********

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