reclaiming Generali Vision plan premiums

ImranaT

Hi All, am in the same situation.
We have little to no chance of winning individually. Best is to group up all of us and take legal action against Generali Worldwide. Was there any grouped action so far ?
Please contact me ... Imrana.Thiam@gmail.com.

[Deleted User]

I suggest you remove your email address unless you want to receive lots of interesting and exciting opportunities in return for a small upfront fee.

Catchingsnowflakes

I, too, was duped into taking this plan in Geneva. I lost money but never any accountability from Generali as to where it had gone and neither did “financial advisor” in Switzerland offer any help. I would be happy to join your group of 20+ people but am not on Facebook.

Weescotswifie

I have also fallen foul to poor advice from an unscrupulous IFA in Dubai and am losing money in a Vision fund. Whilst not to the same scale as some of the people who have posted here, it hurts nonetheless. Starting in 2013, I invested all my savings over 2 years in the policy and was told by the IFA that as long as I contributed for the first 2 years, it did not matter if I stopped thereafter - the policy would continue to grow (and this is what I did). With a total investment of USD 25000, my plan value has been going down steadily over the past 5 years. It now stands at USD 20631. I have been informed that my current surrender value is USD 2863 as all the charges for the next 5 years will be deducted. As the selected funds in which my money is invested are doing badly and as my fund seems to be dwindling, I'm worried that by the time the policy 'matures' in 2023 there will be nothing less.
My question is, do I take it on the chin and just surrender my policy now and at least get back USD 2868 or do I wait and see where it is at in 2023? Or is it worthwhile putting in a complaint to Generali explaining that I was missold the policy?
By the way, I looked for the group 'Duped by Devere' on Facebook and couldn't find it. Is it a legitimate page or I am I being duped all over again?

dunstonh

I have also fallen foul to poor advice from an unscrupulous IFA in Dubai

The term IFA is used in the UK and a few other countries. Dubai has no such terminology. You probably used a sales rep or agent. Especially as you mention Devere.

It is important that you do not mix up professionally qualified and regulated individuals in the UK (which has a high standard) against unqualified agents/ sales reps in unregulated countries.

These sorts of products went obsolete in the late 80s/early 90s in the UK.

Or is it worthwhile putting in a complaint to Generali explaining that I was missold the policy?

It is nothing to do with them. They are just the provider. Your grievance is against the selling company.