Bank Of Baroda/IndiaFirst Life Insurance Complaint – Wrong And Misleading Information

Subject: Wrong and misleading information
My Name: Hetvi
My City: Mumbai
My State: Maharashtre
My Complaint Against: Bank of Baroda/IndiaFirst life insurance
Complaint Category: Insurance Companies
Claim Amount (Approx.): 30000
My Complaint Description:
Hi
This is to bring in your notice that my Mother Jignasha Shah Policy holder number 70880802 was misleaded by India First Life insurance to opt for an investment policy When she was specifically was looking for a fixed deposit Mr Vishal Singh BDM At Bank of Baroda MALKAN Branch on 21st JAN 2019 He promised that if we invest in a money back plan we would get a fixed return of 16-18% after the tenure of 5 years for a one time payment of 30000 Rs .
Later on when I called customer care to enquire more about the policy I found that this was a market plan and has got no fixed returns More to it was that it was no one time payment I had to pay the premium yearly of Rs 30000/- for a period of 10 years.
When we go to the bank to Mr Vishal him why did he give us this policy when we asked for FD he Claimed that this policy is more beneficial that FD Is .He Never told us the truth about this being an insurance cum Investment plan.
I Request you to look in this matter at the earliest possible

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