[Resolved]  Reliance life — Probelm with change in frequency of premium change

Dear Sir/Madam,

I (Jeetendra Patil) have taked Reliance Life Insurance Policy last year from sales manager from Maharastra. Now I m in Hyderabad. My user ID number is[protected], and policy number is 13631570.

I wanted to change premium pay frequency, as I couldnt arrange for money for the same in Jan. In December, I visited online account link for premium frequency change; I also asked sales manager from whom I took policy; and I also read policy document. Nowhere it was written that premium frequency change can be done on or before policy annivarsary date.

Now, 3 weeks back I called up customer care, branch office and sales manager, all tell that I should have done it on or before annivarsary date. But how would I know that it had to be done on or before annivarsary date. I tried all options talking to branch people / customer care, but no satisfactory response. This delay has happend due to mistake on Raliance LIfe Insurance part. Its not due to my mistake. They now say that I I dont pay by 27th Feb, my policy will go into lapse state and I will loose life cover.

Thats why, I am writing this email to you. I hope you will be able to address this problem. Else, I may have to go to consumer court.

Now, I dont have Rs.20,000 cash to pay for premium at one go. All I can do is pay on monthly basis, else I will have to close policy, as I dont have Rs.20000.

Kindly reply to my query at the earliest, as grace period for premium pay would end by 27th Feb 2010.

Thanks & regards,

Jeetendra Patil