From: Minaxi Patel <[protected]@yahoo.in>
Subject: irregularities, no communication, erroneous charges and cruel foreclosure
To: [protected]@sbilife.co.in
Date: Wednesday, 27 October, 2010, 4:47 AM
Dear Insurer
As against 250000 Rs. premium paid by me in 2 policies o[censored]nit plus plans purchased from CG Road office of SBI Life: policy no.[protected] having paid premium as 150000 shows fund value of Rs96000, where as [protected] paid premium being Rs100000 is foreclosed by you, foreclosure amount thru cheque for Rs.10807 is sent by you, which is life-threatening and not acceptable.
We have not represented the cheque and have asked you in writing at your CG Road office to resolve the matter.Further, the policy was sold by you with a feature of one time payment and no need to pay regularly.There is no communication from your side since May, 2008- no letter, no fund value statement, no phone calls, nothing. There surely seems some erroneous oversight at your end. Misselling, no communication, hidden charges, erroneous foreclosure, hunger for new premiums only and no services are key reasons for our loss.
How can 1lac Rs. become Rs. 10807? What services do we get though having paid 2.5lac Rs. in premium? Having submitted complaint in writing to your CG Road branch 14days back, still there seems to be no importance attached and hence no communication. Is this the cost of knowing need for insurance and investing such a huge amount? There is no fund value statement also sent to us from the above mentioned date. Only communication was a letter for KYC norms, we have submitted all the required documents timely.
Had it been premium payment, you surely would have managed to collect it.
Expected retirement kitty and not a pre-retirement shock,
Await promptness in resolution of the matter,
Minaxi Patel
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