Save yourself from credit card, insurance and other scams - MUST READ

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fLUX said:
Even for credit cards , each credit card has a type (platinum plus , gold etc etc) and there is a manual providing details of the Credit Card so irrespective of what the agent tells you , always refer to the pdf.
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If the agent claims something beyond the manual, insist that he give in in writing or show the fact in the manual, pretty sure he'll shed off the load by giving a lumpy excuse.
 
montsa007 said:
When you opt for a policy physically, the insurance guys do your urine test, stool test, heart rate etc., and then issue a certificate saying that he/she has these problems which won't be covered if claimed for.
As for internet policy, the details you key in are the details company receives, which means if you have a bed wetting problem (am not saying you, just a wild example), and if you put a claim tomorrow saying you have to undergo a surgery for the ailment, getting the claim will give you various ailments like nausea, loose motions, piles etc., as there was no proof to show that you were 100% fit when you took the policy online.

Again, don't take my word, take a dip and buy a policy online and then file a claim.

As always, I recommend to opt for LIC or GIC policies as they are very transparent and reliable, private players are here to screw up the common man.

Again, don't take my word, experience yourself ;)
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Not Correct. Online policies ask you to undergo medical tests at their designated test centre(s) and the reports are directly sent to the insurance company. If needed, they even ask you to undergo furtehr/advanced tests. This has been my experience with HDFC life online policy.
 
Anyone getting calls form a lawyer from delhi/patiala court that there is a fraud case against you? They even know your house address and tell you that you will get notice in a few days.
 
Some people from ICICI came telling they are "Wealth manager" or something in relation to the Demat account my Dad has. I didn't understand much but they were insisting that we visit the wealth management branch that ICICI specially recently ressurected.

Is it normal? They didnt insist on doing any investments as such, just asked us to visit their branch.
 
booo said:
Anyone getting calls form a lawyer from delhi/patiala court that there is a fraud case against you? They even know your house address and tell you that you will get notice in a few days.
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Let me guess, you have taken a loan and repayment is not done. Now the bank has appointed a lawyer in delhi/patiala/xyz and is filing a case against you. Thats bullshit. Never give any details to them, instead ask them to prove its you. Other than that just let them do whatever they want.

Actually I think everyone should learn up on Vishing. A phone based real life fraud. While many of us are wary of phishing mails, we trust a phone number + voice. Easily swayed by the fact that one number == a mobile company and a bill payer.
 
Sarath_ said:
Some people from ICICI came telling they are "Wealth manager" or something in relation to the Demat account my Dad has. I didn't understand much but they were insisting that we visit the wealth management branch that ICICI specially recently ressurected.

Is it normal? They didnt insist on doing any investments as such, just asked us to visit their branch.
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Once you go there, they will start brainwashing you with some ICICI Prudential ULIP scheme or something and tell you tales like the scheme is ending in two days etc and you need to invest in it as soon as possible. These wealth managers get around 20% cut from our investments, so they think of their wealth only. No need to visit their stupid branch which was resurrected. I keep getting such calls and mails but I stopped paying any heed to them. You can go one time with your father and see if you like. Just dont say yes to any scheme. Buggers will check account balance in front of you since they are part of icici and have access to your bank and demat account. Keep your cool and say no if they tell to invest.
 
6pack said:
Once you go there, they will start brainwashing you with some ICICI Prudential ULIP scheme or something and tell you tales like the scheme is ending in two days etc and you need to invest in it as soon as possible. These wealth managers get around 20% cut from our investments, so they think of their wealth only. No need to visit their stupid branch which was resurrected. I keep getting such calls and mails but I stopped paying any heed to them. You can go one time with your father and see if you like. Just dont say yes to any scheme. Buggers will check account balance in front of you since they are part of icici and have access to your bank and demat account. Keep your cool and say no if they tell to invest.
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I always associate that word with jihad :lol:
 
FREE LOOK PERIOD...

This is your best recourse against unwanted Insurance policies & ULIPS.. Always read your policy document or any investment document thoroughly for term & conditions once you receive the letter. Keep a pencil with you & mark everything which is confusing or what was not promised/ falsified when the product was sold.. The FREE LOOK PERIOD starts from the day you receive the document & not from the day the policy came into effect. so keep the envelope as well which usually has the pick-up date & delivery date can be verified later...

I was recently duped when I went to the bank with my father for his a/c related queries & was offered a product promising us that its an investment product with better returns then fixed deposits. I didn't bothered much & the person selling it never mentioned that it was actually an ULIP. All they told that its only chargeable for the first 5 years then there are no charges.. On asking for detailed documents for the product they are selling they told me that the brochures are not available since they distributed them & fresh ones are coming. My father under the impression that its something similar to fixed deposit got interested & asked me to invest. I personally never invest in ULIPS since they are the sure-shot way to loose money or get minimum returns...

When the document came I saw that the investment was for a NAV guarantee scheme ULIP. I read the whole document & there were other charges for the whole term as well. I simply returned the policy in the FREE LOOK PERIOD. The amount was fully refunded to my a/c in 5-6 days.

So guys even if you are in a fix with an Insurance product you have the option to get out of it in the FREE LOOK PERIOD which is usually 15 days in most cases & 30 in others. Read the terms once the document is provided or better yet ask for a copy of term & conditions beforehand.
 
Just now got a call from +140 and i started with my usual slimming belt and govinda endorsed shandi shuda tel stuff and the caller disconnected the call abruptly before saying "Kya Kya" twice in a heated tone lol :P :lol:

Btw here are couple of contacts in my phone...
 

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Well said bro. Like they say "never say never" :p Some people expect everything in a "yes" or "no", Black or white"
Vasishta.Sushant said:
Looks like you do not have the complete picture painted in your perspective towards the online policies. Online policies are very much the same as the ones you get from insurance agents, just that in this case you deal directly with the company. There is no payout to be done by the company to the agents and they pass on some of the benefit to you, hence the online policies are cheaper.

And just to mention, you do go through all the medical tests, very much the same as you'd go with the offline ones. You policy remains just a "proposal" until the company sees your medical tests and only they are fine, they'll offer you the insurance and that's how you get into a insurance agreement, a "contract".

Second, all the insurance activities are governed by IRDA and there is absolutely no disparity between the players. Its incumbent upon the policy buyer to check the "Most Important Document" (as they put it), which contains all the terms and conditions. A company can't modify the contract/policy terms once they have been established. By signing all those documents, you are giving your consent. Generally the terms are too much to read, the important ones are always clubbed together in the "Most Important Document", as I mentioned, so that the buyers can go through them quickly.

I feel that information given in the first post is more directional yet misleading. Without going through all the facts, you are just generalizing your thoughts as the guiding lines for the prospective buyers. While I do appreciate your effort, I think it should be mentioned as your thoughts. Gullible readers might create an impression which might not necessarily be right.

Things like "Always do this", "never do this" should better be backed up by data points than just someone's opinion, that's all I want to emphasize upon.
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Currently whenever I get a call from such sources,I tell them I already have that card or have enrolled in that policy and the call ends smoothly :) (both sides are happy) . I understood arguing with telemarketers doesn't yield anything.
 
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