Complaint Details

Status	:	Resolved
Complaint No	:	0030616/2014
Category	:	Insurance
Date	:	07-07-2014
Subject Line	:	Sold policy giving wrong information
Complainant	:	prashanth
Address	:	bangalore
Complainee	:	Reliance life insurance
Address	:	na

Complaint Details
Hi,

My name is Prashanth, I was sold 4 policies by giving wrong information (3 icici prudential and one reliance policy) i have already lodged a complaint with ICICI Prudential and Reliance regarding this.

Below is brief information about what happened.

I had purchased ICICI prudential policy, policy number 15547255, it is a policy where i have to make payment for 5 years, 60000 per year,i paid for 3 years and 2 more years of payment was left. after i finished 3rd year payment, I got a call from Delhi from a girl by name NEHA SHARMA ( phone : 9266667585). she said policy i have will not give much benefits and also there is agent commission going out from policy. For me not to loose the benefits which i am supposed to get, like bonus and agent commission, she wanted me to invest 3.8 Lakhs and purchase policies, she said all these amounts that i pay for purchasing policies will be refunded and all policies are one time payment policies, where i have to make payment just once,and also she said all the policies will closed in February and including all the benefits i will get around 13 Lakhs as final settlement, she said she will make sure that i will get all the money by February 2014. I trusted and purchased 3 policies from her,for agent commission deactivation, she wanted me to purchase reliance policy from her colleague Shweta Bharadwaj, Shweta also mentioned that the policy amount will be refunded and it will be one time payment policy. After finishing all formalities of purchasing all policies, i waited till June for my final settlement, I Called Neha on 14th June 2014 and she made me speak with her manager Shiv Bannerji ,he said my final settlement amount is around 18 Lakhs,he said it will be transferred between 5-9th July 2014, I informed him i cannot wait anymore and informed him that i will lodge complaint with ICICI and Reliance for the policies they sold. Called ICICI prudential lodged complaint regarding this and also sent email to reliance regarding this.


I would like to close all policies and also get all benefits. Please let me know if you need any other information,you can call me on 9980913150 i am in Bangalore, waiting for your response at the earliest.

ICCI prudential policy numbers purchased through Neha Sharma :
18023495 amount : Rs 194000
17983097 amount : Rs 58200
17959552 amount : Rs 58200

Reliance Policy number purchased through Shweta Bhardwaj
51286498 amount : Rs 59999.41

I talked to few people who work with Neha Sharma, Once one colleague also informed me that it is IRDA and he said there are 24 insurance companies here. I did not get this information from Neha Sharma, she said she works with icici prudential.


My salary is 3.6 lakhs, i have LIC policy for which i have to pay every year and also have 2 year payment left for first ICICI prudential policy. I cannot invest 3.8 lakhs each year as i don get that much salary only, i purchased these policy just because she said it is one time policy and also she said all the policies will be closed i get 13 lakhs as final settlement.

I want to cancel all policies whose policy number is mentioned above and want my money so that i can pay premium for first ICICI prudential policy, which i was supposed to make on 31st May 2014.

I talked to Ashan (from verification department calling on behalf of Icici prudentidal ) twice, he said he is given positive feedback to insurance company and he also mentioned there is no reason for insurance company to decline my case.

I talked to Rupali Jadhav, bijayinee mohanty (from ICICI Prudential after i talked to ASHAN ), explained everything about how i was sold policy by Neha Sharma giving wrong information.

I also informed them that my salary is 3.6 lakhs and i have lic policy for which i make premium payment of 73k/year and i have icici prulife policy for which i pay 60k/year and i have other expenditures for which i need money. Informed i purchased policies by investing 3.8 lakhs (including 4 policies, 3 ICICI PRUDENTIAL and 1 Reliance) ,just because i was told it is one time payment policy by Neha Sharma and Shweta Bhardwaj (who sold reliance) and all policies will be closed in February 2014 including my first policy and will get 13 lakhs as final settlement.Bijayinee said she will get back to me and sent an email telling they cannot cancel policy sold giving worng information by Neha And Shweta.

I called Bjayinee and explained everything and informed what ASHAN said when he called, she said she cannot do anything.I replied to hr email telling i am not happy with response given by her and called her again, she said she will forward email to higher authorities. I have already lodged a complaint regarding this with IRDA and escalated once, nothing happened, i cannot escalate again as it is not possible with IRDA policy. Lodged complaint again with IRDA regrading this.

IRDA Token numbers for complaints raised against ICICI prudentiail and Reliance companies.
06-14-018508
06-14-018101
06-14-013820
06-14-013557

I cannot continue these policies as i will not have that much savings to make investments of 3.8 Lakhs every year, and want my policies to be cancelled and want my money which i have invested for policies so that i can use to make my lic and icici prudential premium payments.

I also informed Bijayinee(ICICI Prudential) that i have taken 2 Lakh policy by taking loan and informed her that if i have to pay for these policies i have to take loan very year with no money to pay for loan taken.


Request you to help me resolve the problem.

Regards,
Prashanth

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