SBI Life Insurance — False promise and cheating for SBI Life policy

Address:

New Delhi, Delhi

Dear Sir/Madam, I have received my policy No.[protected] on 4th of April 2015 at my residence, which was submitted for FLC on 6th April 2015. However, this is not the end of story as its a clear case of cheating/fraud by SBI agents or Broker or representative? Request you to please read below information how it happened and guide me on next steps: 1. On 23rd March 2015, I have applied for a SBI Life policy against proposal no. QI105486 2. After receipt of policy on 4th April; I have realized that it is not in-line with the promises made by so called SBI Life person Mr. Sachin Gupta from phone numbers[protected] and[protected]. 3. When I tried to call to discuss with him on both the numbers[protected] and[protected] since 4th April 2015 and both the numbers are coming as switched-off and it was the reason of my suspect that there is something wrong. 4. The explantion given by Sachin Gupta for this policy was as below: - I have to 60000 Rs/annum for 8 years and at the end of 8 years I will get 12% pm compounded interest i.e. Rs. 826, 540/- - In addition as this is directly with the SBI Life and there is no agent in between, so I will get Rs. 12, 000/- X 8 = Rs. 96, 000/- additional at the end of 8 years. So, at the end of 8 years I was promised for a sum of Rs. 826, 540/- + Rs. 96, 000/- = Rs. 922, 540/- (Nine Lakhs twenty-two thousands five hundred and forty rupees only). 5.After reviewing the policy document I found that the sum assured value = Rs. 429, 000/- only 6. I also think the signatires on the page 45 & 46 of the Policy Booklet received are not mine. 6. They also told me that this policy is directly from SBI Life and no broker or agent in between. However, when I got the policy PROBUS INSURANCE BROKER LTD. name was clearly written on Page 3 of the Indurance booklet. 7. I have now received a refund of 59893 Rs. from SBI Life on 16th April 2015, which is 107 Rs. less than my original amount. In view of all I think this is a clear case of Cheating and fraud and looking forward for your support to suggest next steps and also what action you are taking against these people or agencies? Also who will compensate for my interest loss on Rs. 60, 000/- from 28th March 2015 to 16th April 2015 (20 days)? More than this kindly let me know who will compensate for my 2 days loss to discuss next steps, to go and submit policy to SBI Life Gurgaon Branch and also mental torture I faced. I have purchased this policy considering SBI as a Govt. of India company. These cheaters are defaming name of our country and cheating peoples. They must have done the same thing agaisnt many others people who even could not make out from policy document that it is not in-line with what was promised upfront. Looking forward for a positive response. Best regards, Bharat Sehrawat New Delhi -110070, India Mobile:[protected]/[protected]