Bharti Axa — Life elite advantage

Received a call in December 2023 on behalf of Bharti Axa where an agent Rajesh Malik contacted me to purchase the Bharti Axa elite life advantage policy.

Mr Rajiv Mallik sold me a policy last December stating the following policy benefits -
1. Medical Coverage for 5 lakhs for my mother and myself including pre-existing illnesses
2. Life insurance
3. Tax exemption
4. Cashback of Rs 20000 on 50000 premium annually on applying the same day through issuance of agent code. Subsequent years I would only have to pay 30000, as I can apply the discount on the said premium amount.
5. The premium needs to be paid only for 3 years after which i will receive the maturity amount (minus 2, 00, 000) which will be reinvested by Bharti AXA for the remaining 9 years.

He had said that after 30 days in the first week of January I would get the policy bond and an agent commission of 20000 post which the free look period for the policy would start, and i could cancel it if i wanted.

He also said the policy has health insurance included for myself and my mother. And when I get a call for confirmation I should only say it’s for investment purposes else they will cancel it.

However I did not receive any policy bond by any agent mentioning the above said points. Rather I received a call from him stating I had received a bonus amount from the company, and asking me to invest an additional 1, 00, 000 to be eligible for that. I had initially refused, but he said that he has a discount code for 25000 and i need to pay 75000 only. After I made the payment online I subsequently received another policy document for the same Elite Advantage. He then also said that the bond for both the policies will be brought in by an agent on February 28. He also stated that when I receive the policy bond papers on February 28 post which only the free look period will start for both policies.

After figuring out that it was a scam I got the second policy cancelled today as it was still in the free look period, however, I couldn't cancel the first one. He and his manager Mr Rakesh Ranjan had disappearing messages turned on, on whatsapp, which i didn't notice at the time either hence those messages are gone too.