Location/place: India
Name of company/service: TATA AIA Life Insurance company
I hold the following policies: C676691720 ,C676637962 ,C676637975.
Our agent company was UNIWEALTH INSURANCE BROKERS PVT LTD(004514967) and the name of the brokers were Gaurav Kumar (ph no.9873833993) and Akhilesh Agarwal (ph no.9899602476).
These two agents convinced us and we were ready to invest 50,000 rupees for a tata-aig life insurance policy and filled up the respective forms for the policy no. C676637975 .Then they explained and said that if we invest approximately 30,000 rupees more into it then they would convert it to some better mahalife gold scheme..so we agreed to it and they also promised that if we pay the premium of 2012 beforehand then we would get a discount of 15,000 rupees and we would have to pay only 35,000 instead of 50,000…we trusted them and agreed.
But when we received the policy welcome kit we learnt that they have made three different policies with the given sum i.e C676691720 of premium 34,427 ,C676637962 of premium 29,471 and C676637975 of premium 50,000 .And the whole policy details was full of spelling mistakes.Though we provided all the documents required, my name was spelled as LAKSHMICHEETRY RAGHUBHAI AIYAR ,my address was not spelled correctly, moreover my father’s(nominee) photo was replaced by someone else’s photo…..
We didn’t understand what misunderstanding took place as we had requested only for a single policy as we could afford only a premium of 50,000.Earlier when we called Gaurav he said that the kit we received was just a welcome kit and that we would get our corrected original policy document on 5th January 2012 ,so we could not cancel it within 15 days. Now when we tried to contact those brokers Gaurav Kumar is not answering our call and Akhilesh has switched off his no.That is when we gave you the mail regarding cancellation of policies last week.
We were later told by another company person that the welcome kit was actually our policy document.
Now we have lost those 15 days period of cancellation rights and refund waiting for original document ignorant of the fact .This is getting very serious.We want an immediate action taken in our favor.
We common people don’t understand the actuarial terms and conditions of these insurance policies.Its the duty of the agent to read and explain us the whole document properly.Now we are not to be blamed as we had already explained them that we could afford for only 1 policy. I want to have the policies C676691720 and C676637962 cancelled and our sum returned as i can’t afford it and please take action against such cheating agents who have spoiled your reputation.
We had reported this matter of misselling and fraud to the company about 50 times and finally after 8 months we get a reply that nothing can be done.We are left disappointed and disheartened.We will never in our life let any of our friends or relative invest in Tata aia life.We have no choice now rather than discontinue paying premiums and watch our money go…..Hell with Tata Aia….
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