My BM asked me ULIP of 5.5L/Yr for 6 yrs and deducted the first installment as well for Infinia but poor guy was not able to get approval even after escalating till product head Parag. So, i denied the KYC for the ULIP.
Just to add cherry on top, my net salary was 57L and had more cash in account than Infinia criteria and net NRV close to a CR, existing card limit was 15L.
So, if not band very tough now. He had shown me at-least 10 mail follow-ups to different levels.
In the end i got INFINIA without any ULIP after taking everything in my hand and some escalations without including RM/BM in the process.
I started the journey back in Sept 24 and got the card in Feb'25
I will try and present an unbiased analysis of my ULIP from HDFC in order to discuss the positive and negative aspects of modern ULIPs. Most plans have a premium payment term of 10 to 15 years. The premium ranges from 50k to just over 2 lakhs as 2.5 lakhs is the maximum annual premium allowed for it to be tax free. My premium is a bit over 2 lakhs with a payment period of 10 years and a life insurance cover of 50 lakhs along with 50 lakhs of dismemberment and another 50 lakhs of disability coverage. The duration of the policy is 25 years. Some people would think that they got a better deal...