Cheating with fraud promises for Policy

Location/place: Jamnagar

Name of company/service: Birla Sunlife Insurance

I GOPALAKRISHNAN VELLARKALAM, hereby submitting the application for favorable action on miss selling of BSLI policy by lucrative promises and fraud transaction.

On a canvas call received from Miss Anu (M No.9250023887) stated that she is from BSLI Delhi HO and canvassed for BSLI Bachat Plan policy in December 2011 and I have taken the Birla Sun Life Insurance Policy Bachat Plan No 005261706 of a yearly premium of Rs 28790.89 (with a rebate of 4 % ).On advise of Miss Anu , One Mr Alpesh Dave from BSLI has come and collected the cheque and Policy application form signed.

In January 2012, I have received a call from Mrs Priya Verma (M.No. 9999250321) stating that she is from BSLI Delhi HO and I have been selected as valued customer of BSLI and offered Bonus payment on my existing BSLI policy taken in Dec 2011. I have not agreed for the offer in one or two calls , she has made many calls and continuously promised for the better offer of 100% bonus and intimated that I have to give a cheque for one time policy of Rs 50000/- (with less rebate of Rs 3000/- net amount to be payable Rs 47000/-) in favour of “Birla Sun Life Insurance co ltd”as an single premium policy which can be surrendered after 45 days. On receipt of Rs 47000/- BSLI will issue a Bonus letter of Rs 100000/- and the Bonus amount will be deposited in my account or a cheque will be issued after 45 days of receipt of the offer letter.

On accepting the offer Mrs Priya Verma has sent Mr Alpesh Dave M.No 8733906937 from Ahmedabad(same person collected the earlier cheque also) to collect the cheque from my residence at Jamnagar and taken the signatures in the BSLI form stating that the form is required to open Single premium policy and issued a receipt for the same (Enclosed)

But on receipt of policy , I have contacted Mrs Priya Verma many time and she keep on promising the offer letter and even intimated that the offer letter despatched has been returned due to some mismatching of address. On completion of free look period of the policy , she never accepted my calls , she don’t take the calls from my mobile and I tried to call her from some other no and on recognizing my voice she disconnect the phone. Hence I could not communicate her further and it is understood the mobile no used by her is disconnected now.

I have not received any cheque nor any on line payment to my ICICI Bank account from BSLI, and when I have inquired about the bonus cheque/payments from BSLI Customer care and BSLI Jamnagar branch at times I came to know that there is no such bonus is payable in my policy and the new policy(BSLI Policy No 5379161) which was given to me was also not a single premium policy and I also have to pay Rs.94000/- per annum for 20 years and I cannot surrender the policy as the freelook period is completed.

On checking the both policy It is understood that the girls canvased me are not from BSLI Delhi HO and they were from Sridhar Insurance Brokers Pvt Ltd , Delhi on behalf of BSLI.

I humbly state that it is not possible for me to pay Rs. 94000/- per annum for 20 years for the above policy as my age is 48 yrs and my service will not be there for 20 years. My good earning will be stopping at the age of 58 yrs and also I am holding a BSLI Bachat plan policy No 005261706 of Rs 28790/- premium. Also I am holding 3 LIC policies ,1 SBI life Insurance and One bajaj Alliance policy. I am having 2 grown up children (Son studying in Engineering & Daughter in 10th Standard) and I have to look after their education expenses on top of my day to day expenses, hence I am unable spare Rs 94000/year for the above policy premium.

I have registered the complaint of the above matter to Birla Sun life Insurance number of times by on line, by mail & Customer care and also written complaint to BSLI office . I also registered the complaint with Sridhar Insurance Brokers Delhi who is the Broker name mentioned in the policy and to IRDA by online (screen short of complaint registered attached).

But I have not received any proper response from any authority so far for my grievances on the Policy and no favorable communication received from any of the above authority.

I have requested the BSLI customer care, if not possible to cancel and refund the policy amount, atleast to convert the amount to a single premium policy. But no response or any changes made till date and the above policy is invalid now.

I kindly request you to look in to the matter and do the needful in favour atleast if not possible to refund the amount paid, BSLI may convert the existing policy to single premium policy so that the amount paid will not be lapsed and will not lost. Because Rs 47000/- is great amount for me.

I kindly request you to advise BSLI to convert my above policy to single premium policy (Rs 47000/-) as described to me and close my grievances at the earliest .

Waiting for necessary and positive response from the Insurance Ombudsman

Thanking you,
Yours Sincerely

GOPALAKRISHNAN VELLARKALAM
M.No 9979891335
Email – [email protected] or [email protected]

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