The return on maturity of the policy is far from alluring but the premium is low. It is thus a policy that a saver will avoid, but is ideal for the family breadwinner who is concerned about his dependents. On the other hand, Birla Sun Life's Flexi Life Line Whole Life Plan requires the policyholder to pay premium for his entire life or up to 100 years of age, whichever is earlier. That is a major departure from pure endowments. However, the Birla Sun Life policy offers the policyholder even more value by giving him options to decide the manner in which a part of the premium paid by him will be invested.
Premium is too high for the sum assured.
The GIC being a state monopoly till recently, it witnessed idle growth. Claims can take up to months to settle. Rampant corruption in damage assessment. Premium is kept low. In a competitive market, new entrants can survive only if they are innovative.