Whilst in Dubai some 10 years back I signed up for a 10 year Generali Vision Plan in the belief that my initial investment would have to remain in the scheme for 10 years, i.e. like a fixed term investment.
I made regular payments into the scheme for 2 years and then stopped, as planned from the very outset. Now that the scheme has matured, I find that Generali have been deducting Administration Charges (undisclosed on their statements) in the form of units as though my monthly statements had continued for the whole 10 years.
The net result is that their charges have amounted to in excess of 60% of my investment with a pay-out little different from my initial investment!! Having studied in detail their small print (Vision Policy Conditions) and the one and only application form that I signed, I can see no reference stating that I was in effect signing a contract to maintain my monthly payments for the whole 10 years.