[Resolved]  Tata AIA Life — Company terminated the policy without intimating to the customer

Address:

Karimnagar, Andhra Pradesh

I have taken the policy which is share market linked. But they have guaranteed sum assured after the lock in period of 10 years. I am supposed to pay the premium for 3 years. The same was informed to me by the agent and also it is mentioned in the company bond also. The sum assured is 2500000 and they have taken 500000, 90000 and 90000 in 3 years. This sum assured supposed to get at the end of 10 years or in case of death the nominee is supposed to get which ever is earlier. Another information which they gave me during making policy that, if the fund performs well, the highest NAV will be locked, which ever is the highest will be paid to me. But after paying for 3 years premium, there was no communication with me neither from company not from Agent. But now I called to company find out, how this fund is performing as the sensex is doing well since last few months. After 6 and half years, they responded from call centre saying that as this fund is not performing well, company has taken the decision and terminated policy before maturity period. They have dispatched an amount of 21000 All this has been done without informing me. What should I do now. Kindly help me.