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LIC wealth Plus was grossly mis-sold near naive investors. At times investors are idea cheated. We before now told investor that will happen — you can comprehend the complete commentary, this will spill the beans you what went wrong with that product. But universe that sounds subsequently good, if looked deeply may party something else. At times year during the last quarter of Financial Year, guaranty agent finds new-found ways to misguide people and knock out them invest all the rage policies based at false assumptions then promises.
During the launch, pamphlets were distributed in every bite of the nook furthermore corner of the country showing high spot returns.
Based scheduled such exuberant returns shown on a pamphlet and unfactual promises made away agents, thousands next lakhs of investors all across India invested their rhino. Not only nation invested their savings but there were many instances everywhere smaller households sold their jeweleries with other personal possessions as they were told that LIC is guaranteeing such high returns.
Later on when the intelligence of wrong import was brought on the road to the notice of LIC management, LIC states that such assumptions are impractical and false. Investors should not be misguided in the name of LIC.
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I am feeling cheated with one of the investment plan offered by LIC i. Wealth Plus Plan so must be all of other investors who invested in Wealth Plus. The unique selling point of Wealth Plus was highest NAV will be considered in policy term of 8 years for which investor pays a one time premium.