I had taken a policy of 'Young star' with insurance coverage giving me so many dreams shown in excel sheet. It involved intial amount of Rs 5 lakhs investment, in the yr followed by payments of Rs. 50, 000 for 3 consequetive years. This was terms and condition agreed at the time of investment. I paid all these payments in NRE. In 2010 January, I got a cheque of approx Rs. 4 lakhs in Indian Rupees (that too not an NRE cheque) from ur bank, saying that all is closed.
My A/C number is 3091060009774
Policy # is 10785159
You can clearly see that I have lost around Rs. 2.5 lakhs at the end of 4-5 yrs. It would have been a better choice to put it in fixed deposit else where which would have given me double the amount by now.
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