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Tata Life Insurance



Ask Mint Money | Your investment options should be aligned with your needs Livemint

29.08.11

I am 46 years old and own a flat in Mumbai. I have systematic investment plan (SIP) of Rs 2,000 each in ICICI Infra Growth, DSP Top 100, HDFC Top 200, Reliance Growth and Sundaram Select Growth. I have invested lump sums of Rs 47,000 in Reliance Regular Saving Growth Fund and Rs 82,000 in Tata P/E Growth Fund. I pay Rs 50,000 annual premium for a unit-linked insurance plan (Ulip) since 2009 for a cover of Rs 20 lakh. I also pay Rs 15,500 annual premium for a life insurance policy for my daughter for a Rs 2 lakh cover. I pay Rs 17,000 annual premium for traditional policies. I pay Rs 11,000 annual premium for a family floater policy of Rs 6 lakh and accident disablement cover of Rs 10 lakh. I have been contributing Rs 70,000 in Public Provident Fund (PPF) since the last five years. The PPF amount stands at Rs 7 lakh and my savings in Employees’ Provident Fund is Rs 1.5 lakh. I have Rs 2 lakh in liquid fund and a fixed deposit of Rs 1 lakh. I want to build a corpus for my daughter’s education and marriage. I want to accumulate Rs 25 lakh for retirement. Are my investments on track?

Source:

bTata/b AIG bLife Insurance/b Company Ltd

I was issued with a policy effective from 20th September 2005 in my daughter's name by Tata AIG Life Insurance through there agent HSBC bank under false promises and hiding certain aspects of the policy. I could not avail of the freelook period as I went out of India on my job. The bank was aware of this fact and misused the information. The complete information can be submitted by me if required. Now 5 year period is over (I waited as I did not want to lose my money any more) and I have surrendered the policy for refund of fund value on 22nd September 2010. Till date I have not received my money. When I call there customer care number I am always stonewalled. No information is given to me. On 30th Sept 2010 customer care informed that the money will be in account on 5th Oct 2010, Tuesday and I will be informed of the same on my mobile number. The money has not been deposited and I did not receive any phone call.

Source: bTata/b AIG bLife Insurance/b Company Ltd

Tata AIG Life Insurance