Irish Life, are they a useless timewasting bunch of people just looking for a loan!!?

Jay D

after 4 years I have received a 2% interest rate of the original investment.

Now that is of the original, not even 2% per year.

I rang up the other day to cancel and I asked why the return was so low and the guy told me that the past twelve months had been bad....
I was quick to stop him and ask why my policy had not changed by much at all since last year and the preceeding 2 years. The return is disgraceful.
He 'didn't know' then.... Like what kind of an answer is that from a financial institution!?

Has anyone (not working there) had good experiences with these, what I would call, completely incompetent individuals?
I will be asking questions to their superiors. They've got some neck!!

stepbar

Jay D wrote: »

after 4 years I have received a 2% interest rate of the original investment.

Now that is of the original, not even 2% per year.

I rang up the other day to cancel and I asked why the return was so low and the guy told me that the past twelve months had been bad....
I was quick to stop him and ask why my policy had not changed by much at all since last year and the preceeding 2 years. The return is disgraceful.
He 'didn't know' then.... Like what kind of an answer is that from a financial institution!?

Has anyone (not working there) had good experiences with these, what I would call, completely incompetent individuals?
I will be asking questions to their superiors. They've got some neck!!

To be fair, I doubt you'd be complaining if the fund had turned a nice profit. Such is life. If there was such a thing as a risk free investment we'd be all in it. Count yourself lucky that the capital invested itself remained solid. There are lots of people sitting on a lot worse losses.

Jay D

stepbar wrote: »

To be fair, I doubt you'd be complaining if the fund had turned a nice profit. Such is life. If there was such a thing as a risk free investment we'd be all in it. Count yourself lucky that the capital invested itself remained solid. There are lots of people sitting on a lot worse losses.

The financial advisor was quick to say that to me also when I went in a few weeks ago. However, another reason I am annoyed more now is the fact that he had told me that the amount I would get if I cancelled now would be less than that I had put in in the first place. This I subsequently found out was not true. So basically he has lied to me so that I would not touch it.
Also, I had opted for my capital to be secure regardless, so that doesn't really come into it.
As well as this, my mother has had issues recently in regards her life assurance. She had started a policy with savings and the broker (an Irish Life official) at the time had told her her savings would not make a difference on her life assurance cover, however it did. The official had since moved to a different company and through contact, as they would see each other on their travels, he told her that they were no longer allowed to say this. Now I don't know whether it was just a pitch used at the time to gain money from people for the short term or what not but I get the impression through correspondence I have seen that they try fob people off.

gordon_gekko

Jay D wrote: »

after 4 years I have received a 2% interest rate of the original investment.

Now that is of the original, not even 2% per year.

I rang up the other day to cancel and I asked why the return was so low and the guy told me that the past twelve months had been bad....
I was quick to stop him and ask why my policy had not changed by much at all since last year and the preceeding 2 years. The return is disgraceful.
He 'didn't know' then.... Like what kind of an answer is that from a financial institution!?

Has anyone (not working there) had good experiences with these, what I would call, completely incompetent individuals?
I will be asking questions to their superiors. They've got some neck!!

irish life are indeed a waste of space , a close relative of mine invested a few hundred grand in a fund with them in the last yr , they chose to put the money in commodities , it went up 9% in the past 12 mths but dropped 6% in august , now anyone that knows anything about commodities knows that if you couldnt make money in them this past 12 mths , you never will, commodities boomed , the problem with irish life is they have fund managers who just take peoples money at fling it at any old thing which falls under the heading of commodities , there not too bothered if the steel companies or the energy companies they invest in are lousy , as long as they are getting commision , there not bothered