Reliance Life Insurance — Fraudently sold policy against loan

Address:

Mumbai City, Maharashtra

I have 1st got the call from Ms Shakshi Sharam from Delhi- [protected], on 23rd April and have promised me to loan against the Re Life policy at rate of 4.99%. But have told me that you have to only pay the Insurance premium for sum assured of INR 10L of premium amount Rs. 70000/- for 15 years and after 15 years you don’t have to pay. Also at the end of 20th year of policy maturity total maturity amount will be INR 2050000/-, from this maturity amount Reliance Capital will take back its loan amount of INR 1000000+interest of INR750000/(@5% for 15 Year of 10L) and after deduction of INR 1750000/- you get rest 4L Rs also at the end of 20th year. It was firmly informed to me that you don’t have to pay for the loan amount which will be done by Rel capital. Later I was called by Mr. Vikram Singh-[protected] who’s is my customer relationship and then to his boss Mr. Rajesh Bhatia-[protected]. Who has also mentioned the same things? So I issued the cheque no-112691 dated 28th April 2015 of ICICI Bank for amount of Rs. 70000/-(Seventy Thousands) which was encased by RLIC on 6th May 2015 and I got the Plicy Documents on 11th May at 4pm through Speed Post. Then I was verified by Mr. Saket Mathur from Rel fin-011 [protected] on 27th April and Later by Mr. S.N. Bedi from no-[protected] on 29th April and informed me about my CBIL score and the eligibility of my loan amount of Rs.10L(as per him I can get upto Rs.16.4L of loan) and Then by Mr. Rohit Agarwal from Reliance Karol Baugh branch-[protected] on 30th April. Then I was being updated by Ms. Ankita Sharma on my Rel finance progress status on agreement/document etc-from no. [protected]/[protected] on daily basis. Then Ms. Neha Walia called me up on 18th May 2015, informed my about my loan approval of Rs.10L with Reliance Capital and provided me details of File no. RLIC4914D and Approval No. RCF761L. Then Ms. Priya Gulati called me from [protected] on 25th May 2015 at 12.23 Hrs and verified about if someone has asked for the commission for this loan or any additional money has been demanded from you which I replies no. she again confirmed me about the 10L loan and 4L at the end of 20th year. Same was again Then I got call from Ms. Ankita Sharma at 14.42 Hrs on 26th May, asking for two references, which I provided and my both colleagues got verification call as well. Finally I was informed on 26th May 2015 by Ms. Ankita Sharma and Mr. Vikram Singh and Mr. Rajesh Bhatia that your verification is complete and by 28th/29th You will get the reliance capital agreement which will have condition of all these that this Loan of INR-10L is against your Rel life insurance policy and you have pay only the premium. As per commitment from Till now things was ok, but today I did not got the agreement or any call from the reliance end, so I got anxious and called may time to Ms Ankit and Vikram.Singh. SO finally Ms. Ankita Sharma at 15.30 Hrs(29th May 2015) confirmed me that your agreement will come on Tuesday that is 2nd June 2015( She assured me 110%), else if I want I can cancel the policy. Since so many people was involved and I got the approval no of Reliance Capital, I thought things are on track. In meantime to re ascertain about my free look period of 30 days a I got it from the Distance Marketing, I got it confirmed through my Reliance life insurance customer relation who was assigned to me Ms. Neha-[protected], who arranged call back for and I got the call from Ms.Niharika Khanna-[protected] at 14.42 Hrs on 26th May, she has re-confirmed that my Policy is distance policy and I have free look period of 30 days. We have discussed about the penalty as she said only approx. 2000/-Rs will be deducted and rest will be refunded. I am Still OK with this policy provided I get the loan as per the commitment, else would like to request for cancellation of this policy and arrange for the refund of the same. Also would like to mention that I was informed by Mr. Vikram/Rajesh/Bedi/Ankit and all other that since it is done at management level and as per IRDA we can’t offer openly or in written to you about the loan, hence we cant give you in writing, as well with lower employees of the rel life you will not discuss. Since I got the Policy through the same people who have offered me the loan I went ahead. Now Reliance Life is looking into complaint of cancellation, but not confirming about therefund, i am worried, , pls help