Tweets on 2012-02-26

by Vinaya HS on February 26, 2012

in Finance

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ICICI_Pru_Ad

The hidden message being –

  • We managed to fool you all these years under the guile of “Premium Allocation Charges.” No one in this industry knows why there has to be a special charge just to allocate your premium (premium = your hard-earned money). And no one in this industry even wants to know why that allocation charge is a function of time.

  • The best you can do now is to stick around with us because if you switch you’ll be an even bigger fool (remember, we’ve extracted all that we can out of you into our balance sheet) for paying that “Premium Allocation Charge” to someone else yet again.

I seriously hate this “holier than thou” attitude.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 1 comment… read it below or add one }

T S Ashok February 27, 2012 at 12:24 PM

When I surrendered Tata Maha Life Policy(as i took good Term policy..), they gave me the following.. Refund = Total amount paid – 1st year premium+ 30% of all other premiums from 2nd year onwards..OMG.. I got Big Tirupathi Laddu..

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