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Old 02.09.2014, 13:43
GVAmumofone GVAmumofone is offline
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Location: Geneva
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Re: Generali Vision: online petition

I signed up for a Generali vision policy in September 2012 after being contacted by a financial adviser here in Geneva. I was keen to get a savings policy in place (and the adviser made me feel like I had wasted so much time and should sign up for a 20 year policy) so I chose the Generali vision policy because I have my car and house insurance with them.

However, 2 years down the track, I have realised what a huge mistake I have committed myself to. If you google "Generali vision" you will find more negative feedback than positive, some of the feedback even mentions that the policy may be illegal in some countries. The running theme is that most people who have bought into this policy in good faith are finding out (as I have recently) that there are many restrictions on what you can do once you have committed.

Yes, I know that some may say "well, didn't you read the fine print?" and the answer in "yes". I even questioned some of the details of the policy before I signed. Stupidly, I believed the answers given by the "financial adviser" which have turned out to be false. Too late now and if I forfeit the policy, I will lose the first 20 months of contributions (totaling around USD 18,000) and will be forced to pay Generali's fees (2%) for the next 18 years.

My advice is to STAY AWAY FROM COLD-CALLING SO-CALLED FINANCIAL ADVISERS AND CERTAINLY NEVER SIGN UP FOR A GENERALI SAVINGS PLAN.
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