ULIP & Insurance Mis-Selling Audit

The script is always the same. A bank Relationship Manager calls you in and tells you, "Sir, we have a special product for you — guaranteed returns plus life cover plus tax-free, available only for premium customers like yourself." You sign the papers. Three years later you check the policy value and it is less than what you have paid in. That is not bad luck. That is how most ULIPs are designed to work in the early years, and almost no one explains this to the buyer at the time of sale.

I have audited dozens of these policies — Max Life, Bajaj Allianz, HDFC Life, ICICI Prudential, Tata AIA — the brand names rotate but the structure underneath is more or less identical. In forty-five minutes I will break down every single charge your policy is silently taking from you (mortality, administration, premium allocation, fund management, policy surrender — there are usually five or more separate charges), calculate your actual real return versus the rosy projection that was shown to you on PowerPoint, and run the surrender-versus-continue math line by line. Then I will show you what the same premium amount in a plain Term Plan plus a simple mutual fund combination would have done over the same number of years.

You leave with a clear decision: continue, make it paid-up, or surrender. No emotion, no regret, just the numbers.