Recently we were reviewing a policy purchased in 2011 and just realized we were scammed by the company. The agent who sold us the policy didn’t go through it in detail, which she should, and we weren’t aware of the full terms and details at point of application. As it was a packaged thing that we had to take up in order to get what we wanted to, a time deposit with the bank. If the full terms were explained to us, I will never ever invest in such a policy.
This thing has been bothering me for the last couple of days and I think we now clearly have a case to fight for. Perhaps some things happened the way it did for a reason.
In 2011 I blogged about our bad experience with the bank and clearly stated what happened and the dates of follow up actions. Because of that, we now have good reasons why the company should let us terminate the plan and return our money. Its not a small sum we are talking about here having paid for the policy since Aug 2011 at $1k each month.
I’m going to print the blog entry out and get the sitaution fixed tomorrow.