[Resolved]  Bharti Axa Life Insurance — Negligence in paying compensation for money paid

Address:

Guntur, Andhra Pradesh

Hi sir, I took the policy on 24/07/2008 when I was working, paid 30-32 instalments continuously. I lost my job and came back to my native in Andhra Pradesh. I updated my mobile number and paid few instalments online whenever I had money. I was short of money and asked customer care to settle my account. They suggested me to continue the policy for 5 yrs, pay instalments once in 6/12 months so that the account will be in force. After an year when I was unable to, pay online I asked customer care for the reason, they told the policy was lapsed and they will send their person to collect payment and few documents for policy continuation. No one came to me for next 3 months and I got a reply that I will receive a cheque worth 59k approximately in a month as a settlement amount of my policy for which I paid a total of 78, 000 in 39 instalments. Now three months back I got a call from company saying my cheque was sent to Bangalore ADRESS and it was not collected so they kept the money with them. There was no email/call/message intimation regarding the cheque delivery. At present they are asking me to collect cheque of 59, 000 from the nearest branch. They are not ready to pay any compensation for money since it's expiry after 3 yrs. Firstly I lost 20, 000 from policy. Secondly company used my money since 2008 and not at all bothered to pay any interest for 59, 000 which they kept with them form past 3 yrs. kindly help.