Aviva & s tendulkar's don't care. Review on Aviva Life Insurance

The following information will be very useful for many cust's in relation to aviva policy mis-selling:

Hi richdad87 , you are sick with aviva fever. You are a big time sick person, i'll tell you why. Here's the fact to give u real bad time.

The moment i read the first line of richdad87 review(very fond of aviva), i was sure that he must be closely related to insurance.that's the only benefit( in abstract terms) a cust will get from aviva policies. To be precise the benefit after all cheating and no help aviva does, is that the cheated cust will definitely read between the lines in future, before going with any insurance company policy. At least i think that i am quite aware of the insurance information and i double check a lot of info before investing anywhere.

Agreed that people did not clearly read everything as you advise, however the point is what aviva does to those people who were fooled by the insurance agents?? Well when i got the policy document i did find some differences( not all differences as i was an insurance illiterate at that time). So my next step was contact the abn amro agent who sold me the policy, now the abn agent compared to aviva agent was the same thing for me. For me that abn amro agent was aviva for me. He represented all the glory of aviva as you described in your review.

I did try to discuss about the differences with him. Now, that b st rd was clever enough to convince me again, with his confidence and promises. He promised to me that he will make sure that i get money back with 25-30% growth after three years. He said he will be there after three years, when we withdraw money together. After three years everything was just opposite to what the agent said. (actually he was already aware that he sold me a 30 years policy and misguided me not to discuss anything with actual aviva cust care agent within 15 days looking period).

I complained to aviva about this, as the agent stopped responding to his phone. Now all aviva says is about the 15 days look-in period, which same advise as you and no further help at all. Remember i did call the agent. To add to my agony, aviva agents were proud to tell me that they ended most of the tie-ups abn amro. Also, aviva now gives more flexibility to the new cust's after 19may2010( since irda revised surrender policies for ulip). Moreover nowadays aviva cust care callsback the cust 2-3 times to verify the what info was provided to the cust.

The reason why they callback is, as they recieved many complains of mis-selled policies by abn and aviva agents as well. Did i ever get callbacks? Never. Do i get the same benefit as new cust(eg; less surrender charges and time), no. Will aviva do anything for my benefit, even though they indirectly agree that there was a major mis-selling done, no; aviva will not do anything for me . Except advising that i should've read the t&c's. Aviva agents keep on convincing to continue with the policy, they give a fake promise, that market is on rise and in long term the policy will definitely grow and perform well. That's all aviva does in terms of resolution. Aviva may have changed policies for the new customer's but will do nothing for the tenured suffering cust's.

I also had a second though t that i have made a mistake however may be my ulip policy perhaps do well in long terms. I am very disappointed to say this that aviva ulip's do not perform good in long terms as well. Based on my growth fund ULIP policy performance,

The average growth i see is somewhere 2 to 4.5% a year only . On this date 06nov2010, when the bse market has crossed 21, 000 mark, when all the media channels are telling people that the market is really doing well ; at this crucial time the actual growth i see is only 3 to 4 % compared to 25-30%, what aviva stills commits to its cust. My only question to all aviva bigshots is : how much the bse should perform to get 25-30% growth and more as you promise?? 21, 000 mark on bse = 3-4% growth only . And if market crashes, then this percentage will fall even low . Which i know because i remember what happened when recession came last year, that was my 3rd year of the policy. So, precisely in future if bse is performing abnormally well( instead of 21000 may be 99000 or more) as per aviva, then i may(not definitely) will get 25-30% growth, that too after 25 or 30 years from now . Thank god, that my premium amount is not very huge as other cheated cust's. Also using switching option in this policy is a way to lose more money than gaining( check details with aviva agents).

So in the near future (lets say within next 3- 10 years) if i need money and if i decide to surrender my policy and at that point if the market is down, i may get less amount than the priciple amount or just same amount as principle amount. Which is because of huge surrender charges(50-70%, which policy document hardly clarifies neither agent will tell you). Let's say even if the bse is doing average or good performance, still the surrender value is very less even compared to even a fixed deposit. Somehow aviva policy designers have made sure that cust will lose money, if there is any urgent requirement of money. So no matter what type of emergency you have, how badly you need money, ( you never can anticipate emergency ) aviva will take a major chunk of money before they give it back to you. Most of cust will agree that they never wanted such policy, it was mis-selling. My question to aviva bigshots is : where is the security, the peace of mind which sachin tendulkar guarantees?aviva agents will never share this real fact to the new prospect cust's ever. What's the point of investing with aviva for no good at all. All you get is a well planned fake promise eventually. The policy is now wait and watch game only for me.

That why i'll share this with all the people i know and I do not know, how aviva is. I remember sharing my dilemma to many friends and relative, and all of them decided not to go with aviva ever. Because it's not just about reading between the lines, it more about trust and care, where aviva has failed completely . All people are not that insurance literate as the aviva agents, however if somebody makes a mistake, atleast aviva should have a way out for them. In return atleast those cheated customer may eventually think that they may have made a mistake, however aviva helped them come out of it with least amount of financial loss; so i may continue with aviva with some other plan.

Is aviva doing anything of such sort to majority of the cheated cust's by abn and aviva agents?? No, nothing, aviva do not even say that they are looking for some way out to save these majority of people.the history you are talking about may be is good, but the history which aviva is now creating is really bad and aviva should do something about it. Because if there are no customers willing to buy your policies, then what aviva will do only with t&c's, with no cust even to read it ?

Everybody out there on internet please be very careful when you are investing your hard earned money. Because there are agents who can go to any extent of fake promises for thier benefit & on top if it there many companies including aviva who know that something wrong is going on; but will not listen to your concerns at all because of business reasons and gains.

Richdad87, if you are a man enough, if you have b*lls. Please kindly reply or confront my review.