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TF Premier
So I had a word with a wealth manager via RM regarding a so-called tax saver investment plan which includes a complementary life insurance too.
It's called "Tata AIA Life Insurance Smart Value Income Plan"
The guy says on a recorded line that he can guarantee 90% to get an approval for Infinia provided I invest at least 1L per year for the next 3 years annually. He goes on to say, if he fails to get the approval in 30 days, then I'll get the full refund including the GST paid for this investment plan.
He continues to walk me through to explain the plan which gives 24k yearly return credited to the bank account and at least 3 years will allow me to exit but the actual plan shows 6 years for maturity and 20 years in total.
Now that 1L is actually the minimum and just to walk me through the scenario. Even if we keep the minimum in mind and his guarantee. It seems good enough, however, I'm not sure if this is worth going for?
Anyone aware of this? And what you think is the catch here? He says he would need this policy number or any other similar to get the approval from higher authorities by showing the portfolio and trying. I told him to give this to me in writing but he refuses saying these are loopholes and no one from the bank will put this in writing but he says not to trust anyone including him but to only trust the documents and in this case, told me to go through the terms of the investment plan and you'll know better.
Here's the catch, my RM says I won't get the Infinia but told me to just listen to the plan and when I said this to the wealth manager, he says the RM have certain limitations based on which they say but he has better access to certain things and that is why he is confidently saying over a recorded line about getting approvals and so on.
Anyone aware of this and what you think about this? It's a yay or nay? I don't mind locking in 1L a year if go by the minimum.
It's called "Tata AIA Life Insurance Smart Value Income Plan"
The guy says on a recorded line that he can guarantee 90% to get an approval for Infinia provided I invest at least 1L per year for the next 3 years annually. He goes on to say, if he fails to get the approval in 30 days, then I'll get the full refund including the GST paid for this investment plan.
He continues to walk me through to explain the plan which gives 24k yearly return credited to the bank account and at least 3 years will allow me to exit but the actual plan shows 6 years for maturity and 20 years in total.
Now that 1L is actually the minimum and just to walk me through the scenario. Even if we keep the minimum in mind and his guarantee. It seems good enough, however, I'm not sure if this is worth going for?
Anyone aware of this? And what you think is the catch here? He says he would need this policy number or any other similar to get the approval from higher authorities by showing the portfolio and trying. I told him to give this to me in writing but he refuses saying these are loopholes and no one from the bank will put this in writing but he says not to trust anyone including him but to only trust the documents and in this case, told me to go through the terms of the investment plan and you'll know better.
Here's the catch, my RM says I won't get the Infinia but told me to just listen to the plan and when I said this to the wealth manager, he says the RM have certain limitations based on which they say but he has better access to certain things and that is why he is confidently saying over a recorded line about getting approvals and so on.
Anyone aware of this and what you think about this? It's a yay or nay? I don't mind locking in 1L a year if go by the minimum.
