Thursday, March 14, 2013

Alico Bangladesh Review

Alico is one of the oldest life insurance company in Bangladesh. I opened a policy in 2004. I continued few premiums. Later due to financial problem I could not continue to pay my premium. Few days ago I went to ALICO motijheel Customer care centere at Dhaka in Bangladesh  to rerun my policy. But I was shocked to talk with the Alico customer care representative.

Simply he told me you cannot re activate or return your money. That's means ALICO is the owner of that money. I have no right to get back that money. It is really very strange. Alico's this system is very bad. Alico has no sympathy to it's clients who is not able to maintain his policy for accidental case.

In this case if my money was in my savings account It would be my money forever. But Alico does not accept it. Alico take chance of distressed people. They do not have any system to give back policy holders money to policy holder if he cannot run his policy for accident.

So, please think before open a policy from alico. There are many disadvantages like advantages too. You cannot reactivate your policy if you discontinue for several years. Even they do not back a percentage of your money what they take as a insurance premium from you.