[Resolved]  Birla Sunlife / Platinum Plus — mis selling & extra money cutting by BSLI

Dear Sir,
I am Mr Falguni BDM of andheri branch plese give me your contact no that i can short out your problem and before saying any comment it is better to know all detail about rules and regulations of insurance policy.
Regards,
Falguni
[protected]

dear sir
i have taken one number [protected]. from idea cellular ltd. its postpaid connection. after three months the sales executive of company come to the office and said they provide the cug facility, i[censored] want to took one more connection o[censored]r name, i buy one more connection number is [protected], he said the call between both of them are free, when i got the bill of both mobile the company charged for all the calls between both of them numbers . the bill of [protected] more from my budget coz company charged the .30 paisa per call for my 2nd number. sir please do needful, company not want to resolve my problem
thanking you
yours faithfully
rakesh pahari
[protected]

SIR

I APPLIED FOR PLATINUM PLUS III WHICH HAS BEEN LANCUHED WEF 15 MAY 2009 ON 23 MAY 2009 AND I HANDOVER A CHEQUE OF RS.50, 000/- TO BIRLA ADVISER. MR RAJEEV GEHLOT. RECEIPT OF THE HAS BEEN HANDED OVER TO ME.

AN AMOUNT OF RS. 50000/- HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009.

BUT SUBJECT POLICY HAS NOT BEEN ISSUED TO ME TILL DATE. I CALL TO BIRLA CUSTOMER EXECUTIVE AND SHE TOLD ME THAT MY POLICY IS STILL IN OBSERVATION TILL 04 JUN 2009 AND THE "NAV" OF THE DT OF ISSUING OF POLICY WILL BE APPLICABLE.
THAN WHY THE AMOUNT OF RS 50.000 HAS BEEN WITHDRAWN BEFORE THE ISSUE OF POLICY.

I PURCHASED PLATINUM PLUS III.

I AM NOT AGREE WITH THIS PROCEDURE. IF THE MONEY HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009 THEN WHY I SHOULD NOT GET THE NAV OF THE SAME DT . BECAUSE THE AMOUNT HAS BEEN DEPOSITED IN THE BSLI ACCOUNT.

PLEASE REPLY ME THROUGH SMS ALSO MY TELENO IS[protected].

WAITING IN ANTICIPATION

SURESH KUMAR

SIR

I APPLIED FOR PLATINUM PLUS III WHICH HAS BEEN LANCUHED WEF 15 MAY 2009 ON 23 MAY 2009 AND I HANDOVER A CHEQUE OF RS.50, 000/- TO BIRLA ADVISER. MR RAJEEV GEHLOT. RECEIPT OF THE HAS BEEN HANDED OVER TO ME.

AN AMOUNT OF RS. 50000/- HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009.

BUT SUBJECT POLICY HAS NOT BEEN ISSUED TO ME TILL DATE. I CALL TO BIRLA CUSTOMER EXECUTIVE AND SHE TOLD ME THAT MY POLICY IS STILL IN OBSERVATION TILL 04 JUN 2009 AND THE "NAV" OF THE DT OF ISSUING OF POLICY WILL BE APPLICABLE.
THAN WHY THE AMOUNT OF RS 50.000 HAS BEEN WITHDRAWN BEFORE THE ISSUE OF POLICY.

I PURCHASED PLATINUM PLUS III.

I AM NOT AGREE WITH THIS PROCEDURE. IF THE MONEY HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009 THEN WHY I SHOULD NOT GET THE NAV OF THE SAME DT . BECAUSE THE AMOUNT HAS BEEN DEPOSITED IN THE BSLI ACCOUNT.

PLEASE REPLY ME THROUGH SMS ALSO MY mob no IS [protected].

WAITING IN ANTICIPATION

SURESH KUMAR

SIR

I APPLIED FOR PLATINUM PLUS III WHICH HAS BEEN LANCUHED WEF 15 MAY 2009 ON 23 MAY 2009 AND I HANDOVER A CHEQUE OF RS.50, 000/- TO BIRLA ADVISER. MR RAJEEV GEHLOT. RECEIPT OF THE HAS BEEN HANDED OVER TO ME.

AN AMOUNT OF RS. 50000/- HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009.

BUT SUBJECT POLICY HAS NOT BEEN ISSUED TO ME TILL DATE. I CALL TO BIRLA CUSTOMER EXECUTIVE AND SHE TOLD ME THAT MY POLICY IS STILL IN OBSERVATION TILL 04 JUN 2009 AND THE "NAV" OF THE DT OF ISSUING OF POLICY WILL BE APPLICABLE.
THAN WHY THE AMOUNT OF RS 50.000 HAS BEEN WITHDRAWN BEFORE THE ISSUE OF POLICY.

I PURCHASED PLATINUM PLUS III.

I AM NOT AGREE WITH THIS PROCEDURE. IF THE MONEY HAS BEEN DEDUCTED FROM MY ACCT ON 26 MAY 2009 THEN WHY I SHOULD NOT GET THE NAV OF THE SAME DT . BECAUSE THE AMOUNT HAS BEEN DEPOSITED IN THE BSLI ACCOUNT.

PLEASE REPLY ME THROUGH SMS ALSO MY TELENO IS[protected].

WAITING IN ANTICIPATION

SURESH KUMAR

I do agree with Mr. Suresh Kumar and I also faced similar experience with Birla Sun Life. I had applied on 8 July and my cheque amount was debited on 11 July when Platinum Plus III NAV was Rs. 9.54, but the policy was not issued to me and when enquired they told the same is with underwriters and under hold for want of some documents. In fact all the documents were collected and verified by BSLI branch officers. Subsequently policy was issued on 20 July when NAV of fund was 10.57. The premium receipt states that NAV will be applicable when amount is received by Birla Sun Life, but it seems that the policy issuance is kept pending until NAV is changed. Thus it is clear cheating of customers.

Please advise suitable actions

Narendra Kumbhar
[protected]

The charges levied is clearly indicated in the Policy documents and also in Pamphlet provided. Today that is after 7months, the guranteed NAV on Platinum II ULIP is Rs 14.90 per unit. The guranteed NAV is declared in the website http://insurance.birlasunlife.com/FundPerformance/NAVs/tabid/234/Default.aspx. For your information I give below the guranteed NAV as on date from the site

Guaranteed Maturity Unit Price for Platinum Plus I 11.0942
Guaranteed Maturity Unit Price for Platinum Plus II 14.9417
Guaranteed Maturity Unit Price for Platinum Plus III 11.5938
Guaranteed Maturity Unit Price for Platinum Plus IV 10.2650

As regards the complaint about Mr Suresh Kumar and Mr Narendra Kumbhar, I would like to draw their attention to the fact, that ity is universal for all ULIP have to compulsorily go for underwriting and the money would be invested only on the issuance of the POLICY . In the event the policy is not issued due to some reason, the full amount paid by the proposer would be refunded in full, with no deduction. The NAV applicable would be that of date of issuance of the policy.

Platinum plus III — Non refund of Balance amount.

With due regard it is submitted that two cheques nos:-436985&436806 of Rs. 25000/- each paid to branch office Bathinda on dated 12/08/09 & 14/08/09 against application no:-A27290760 for Platinum plus III policy. Policy was cancelled with in free look period but refund of Rs 25457/- only received by me... Complaint in this regard already submitted to Bathinda Branch office on dated 26/09/2009 no response has been received by me. Kindly arrange to refund my remaining payment of Rs 25000/- at earliest
. Thanking you in anticipation.

Why would BSLI want to accept money from a potential customer and then return the money incase the policy is not issued without any interest. That means BSLI is using customer money 'free of cost' and for as much time as they want. This is not ethical. BSLI should accept a small token payment while papers are in process and on acceptance by their underwriters - only then request the customer to pay entire investment money. In my case BSLI kept my money (Rs.50, 000) for 2 months and returned my money without interest. I had taken this money on loan from my bank. I had to pay interest on the loan amount for 2 months.

Also during 'free look' period and thereafter cancellation of policy by customer BSLI has to refund entire amount without any deductions.

I ve this policy from 1.5.09 and i don't have expirence about this policy actually i tookthis policy due to save tax and now i think i was wronge so plz suggest me and reply as soon as possible .

thanks and regards,
kamal balchandani.
[protected]
plz call or reply it's urgent ...

platinum plus assure you to return you with highest NAV but friend only on maturity. Lets suppose your policy is issued on 12/03/09( NAV was Rs. 9.50 )
and you invested Rs. 50, 000. dear friend now suppose you apply for free look on 09/04/09 ( NAV was Rs. 8.50 ) . the amount that will paid to you is on NAV Rs. 8.50 not with Rs. 9.50 . NAV Rs. 10 is guaranteed but only on maturity . i have seen many person who rcvd the more amount than they invested . now suppose that NAV on 09/04/09 is Rs. 11 then after free look u rcv more than your invested money . so there not any case of misselling and clear case of defame BSLI . Irequest all of you to think twice when you are going to blame any comp. which is known for customer caring . Do you know BSLI is the first comp. which started free look option that is made regular for other comp. by IRDA .

I also have a similar kind of experience with BSIL for Platinum Plus III plan which i had to took as i was annoyed wit cals from CitiBank every alternate day for tking this plan whcih they used to sell as avery lucrative plan in the market. Citi Bank has a tie up with BirlaSunlife, which i cam to knwo during this time only. Otherwise i was having BSLI account as insurance since 2002 .Now the dissapointemt. To my dismay, citiBank has paid the semiannual premium to BSIL an amount of 25K from my acoount without even snding me a mail or sms or any kind of information. When i was checking my online account i fortunaltely noticed the transaction and immediately called citri bank customer care. They after checking my account told it was a standing instruction to the BSLI account and hence has been paid accordingly. But till date i donot have any clue who gve the standing instruction on my behalf, as i am sure i have not any point given any standing instruction to collect the money from my account.Moreoever there wasn't any intimation or notification of any kind to me, that a amount is getting debited from my account. I am realydisheartened the way money has been debited from my account and i treat this as a seriuos offence for the bank as well as the banks insurance partner BirlaSunlife Insurance limited. I enquired with BSIL to refund me th emoney back which I would like to pay at my own interest. But they refused to refund it and stressed on the "STANDING INSTRUCTION" which wasn't done by me or has been done by citi-bank on my behalf. So please be sure of opening a plocy with Insurance Companies when they have a tie up with Banks specially since i got victimised.

thanks and regards
Rajib Mukherji
rajib.[protected]@gmail.com

MyStatment Send My Mobile No.[protected]