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Did I Make the Right Move? My IDFC Private Upgrade Story

imdjay said:
This was not a good deal to upgrade to the IDFC Private account. If you also received the Private Credit Card as Lifetime Free (LTF), then it makes some sense.


I had purchased the same policy for Infinia, which I later canceled within the 30-day free look period because it was missold to me. I don’t recall the exact reason why, but it was something along the lines of “you can stop paying and still get yearly benefits” or “your benefits will accrue at the prevailing SBI savings bank interest rate + 1.5%.” even if I surrender it."
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The thing my rm mis sold to me saying I could cancel and she did paid my gst plus loss i would incurred if I surrender after a year. But 1.86L plus 50k was supposed to credited before making a second year payment that what I should have double checked. So hence I have to continue otherwise my 2.50L would be wasted.
 
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Apply For LTF Scepia Credit Card
I just want to state that most of the Bank's RM received huge commission by mis-selling ULIPs and other health/life insurance schemes to bank customers.
In your case, RM might be received around 30% of your premium in 1st year, i.e. 1.5 Lakh (that is why he/she agreed to even pay 22k GST).
In 2nd year, they will get around 5% of premium i.e. 25k.
As per official reference link - https://www.idfcfirstbank.com/conte...ommon-disclaimer-and-Commission-Structure.pdf
 
Apply For LTF Axis Bank Credit Card
subham23 said:
I just want to state that most of the Bank's RM received huge commission by mis-selling ULIPs and other health/life insurance schemes to bank customers.
In your case, RM might be received around 30% of your premium in 1st year, i.e. 1.5 Lakh (that is why he/she agreed to even pay 22k GST).
In 2nd year, they will get around 5% of premium i.e. 25k.
As per official reference link - https://www.idfcfirstbank.com/conte...ommon-disclaimer-and-Commission-Structure.pdf
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i have asked my RM regarding this she denied earlier too, so i'm emailing to banker@idfcfirstbank.com, how can i search online and find who is that person by using agent code and license code.
 
subham23 said:
Try to check policy application soft copy, hopefully agent info will be there or policy issue copy once approved.
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Agency code will be bank not individual RM name
That’s how they track it for branch revenue across India
@vaibhav111 all for idfc pvt it’s not that worth i will take these ulips if i have given hsbc pvt which needs around 2m usd equivalent in any currency
 
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