[Resolved]  SBI Life Insurance — Non receipt of redemption amount

Address:

Rajkot, Gujarat

Dear Sir, I am residing in London, UK. I had taken a SBI LIFE Pension policy in Jan 2009 through a CIF agent working at State Bank of India, NRI Branch, Rajkot. I had paid a premium of Rs 4, 50, 000. I applied for redemption of the policy in Jan 2013 and since then I have provided all the documents required for four times. But till date, I am yet to receive the dues and above all no response from sbi life. Mr. Vaidya is trying hard to help me out but I think local authorities at Rajkot are turning deaf ears to all his requests. I think there is no clear cut policy at your office for redeeming the policy. They are frequently changing the requirements for redemption. One of them is very ridiculous. They want me come to India and sign all the papers in person. They did not inform me about this when I took the policy, otherwise I would never taken the policy. It seems they don't want to pay back my dues. Mine is not the sole instance. Some of my friends who took the policy on my advice are also facing the same problem. Kamal Rawal, 43.46 Eastwood Road, Southwoodford, London