My grandfather Mr. Rup Ram (proposer in reliance policy numbers – 50669316, 50485443 & 50527177) recieved a call from one of Reliance Life Insurance DSA by the name of AB Capital from an executive Rachna soliciting initially for Reliance Life insurance
policies in Oct 2012 last year.
My grandfather who is 88 years old and was staying alone during that time in Noida. told the agent that he already had 3 policies with Kotak and 1 with religare and would not be intrested for any more policies. The agent then fraudulantly convinced him that they can get the kotak policies
cancelled plus get him the bonus for the kotak policies as they were also working for Kotak.
The agent was smart enough to first call from a mobile phone and later through a landline on a recorded call. As my grandfather is medically unfit to hear correctly he was told to just say yes on every sentence so that he could get his kotak policies claims. He nodded on each sentence
without realising that he was being fraudulantly sold new reliance policies which he never wanted.
They took a cheque of Rs. 85,560 , 2 cheques of Rs. 75,000 each claiming as refundable security and another cheque of Rs. 30,000 all of which got encashed in for new reliance policies in Oct and Nov. All this was
taken claiming that these were refundable securities and will not be encashed.As my grandfather has government bank accounts, he even did not get any notification from his bank on the same.
Also, during this period (Oct-Dec 2012), my grandfather’s real daughter (my aunt) was suffering from terminal illness whereby she died in Dec 2012, hence the policy papers for reliance that were sent to my grandfather was never checked by him due to the conundrum.
Later when my grandfather called this agent to enquire, whereby she stopped taking my grandfather’s calls. As he is really old, it also became difficult for him to pursue it with relevant branches at that time.
As i was informed of this fraud by hm in June 2013 this year, i have been since then hopelessly following up with Reliance Life Insurance through a series of emails, phone calls and personal visits.
I have till now only recieved one correspondence from them whereby they claim that the money cannot be refunded as the papers were sent and no one cancelled during the free look period. I have told them that during that period our family was not in a position to do so, beacuse of the
terminal illness of my aunt, but they are not ready to budge.
Also, on the papers, all signatures do not match and some policy papers (such as identity proofs and adress proofs) are without signature.I have also tried to fllow-up with the Ombuds and the IRDA council, however they are even pathetic than the company as i have not even recieved a
single revert on my complaints.
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