Reliance Life Insurance — Not Refunding the Amount for Cancellation of Policy

Address:Prem Nagar, Delhi

After lots of follow up of Reliance agent was purchased a saving plan (Policy No.[protected] from Reliance Nippon Life Insurance on dated 05/12/2020.They processed my payment on 07/12/2020 and issue my policy on 17/12/2020 (taken 10 days) and till the 22/12/2020 I had not received any policy soft copy. Agent from Reliance end who had proposed me to purchase this policy was also not reply as well as not in touch also.
After discussing this issue with my some of friends I get to know that I had become victim of trap of Reliance agent and same thing found when I get the policy bond on 22/12/2020, there was even not single benefits matched with what agent was told me. So, I was decided to cancel the policy & visited to Kirti nagar branch for the same on 22/12/2020.They said to me that in my policy my signature is not available and advise me to submit an authentication form of signature to related bank.
I had done the same ad submit all the documents on 22/12/2020 and after asking regarding the time period to cancel the policy they said it will be take 12-15 days. On 29/12/2020 they called me and asked to submit policy bond which they never tell on 22/12/2020 and they again said your policy will take 10-15 days to be cancelled.
This way they are harassing me.
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Reliance Life Insurance customer support has been notified about the posted complaint.
Verified Support
Jan 05, 2021
Reliance Life Insurance Customer Care's response
Hi Shatrujit,

Further to your telephonic conversation with our service representative, we hope we have been able to address the concern to your satisfaction.

Regards,
Reliance Nippon Life Insurance Team
Jan 05, 2021
Updated by Shatrujit Patel
I am not satisfied with your service representative, just tell me when I will recieve my refund.Already 13 days has been gone after submitting the cancellation request.
Jan 06, 2021
Updated by Shatrujit Patel
I have already dropped lots of reminders to you regarding my issue, but neither any positive action nor any solution yet provided by your side to me. Also, I called your customer care multiple times and they all say it’s a work in progress and do not have any further update to share with me.

This kind of behavior from your side is forcing me to take the help of the Insurance Ombudsman, IGMS or IRDA. So it is my last humble request that take this matter seriously and cancel my policy[protected] which was sold to me by unfair means and business practices by your agent (amit) and issue me complete refund amount of 1, 04, 500 into payment source asap, to avoid all these actions which I have been thinking to take against you.
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