Aviva Life Insurance Company India Complaints & Reviews

Hi,

I am totally frustrated customer of “Aviva Life Insurance” company.

I had purchase a policy from “Aviva Life Insurance”.

At the time of purchasing they promise like I will get the benefit of approx 37% annually.

At the time of purchasing, they told to me that there is a locking period for 3 Years.

After 3 year, I will get my money back.

So i was deposit my premium as per the schedule. Till yet I had deposit approx 90,000 Rs as premium.

I had completed my 3 Yr (Locking Period) this month. I need the money at urgent basis. I need to pay my home installment.

I had talk with the customer care regarding to money withdrawal.

Now they told me that I’ll get only approx 34,000 Rs.

I shocked……

Causes: Till yet I had deposited approx 90,000 Rs. So rather that getting the profit, I am in loss approx 56000 Rs.

I think each and every person get the policy for the future secutiry and getting some profit.

I had taken the policy for getting profit as well as getting the Tax benift.

But here I am in totally loss.

So it is more benift to me, if I give the tax to government,

So if I give the tax, as per my tax eligibility it is only 10% of the 90000 Rs. So it is only 9000 Rs. Or If I deposit my maoney in any bank then definetly I will get the intrest.

And I will be in the relax mode.

So, I am requesting to you, please return my money, because it is my hard earnings, that money I havent got on the Road, or that money I havent got as a gift. Or that money I havent theft from any body.

So its not fair. I want my principal ammount only.

Once in feburary I had already communicated to the aviva customer care. Please see the attached mail.

My policy current status is:




Total Deposited Ammont: 90000 Rs.
Actual Value: 89099 Rs.
Loss of Ammount: 90000 – 89099 = 901 Rs.

After withdrawal (completed Locking Period) I will get the Amout : Approx 34000 Rs.

Total Loss: 90000 – 34000 = 56000 Rs.

If I give the tax:

Approx 9000 (10% of 90000). But I will be in very relax mode.

So please suggest to me, what should I do, how can I get my whole money (atleast principal ammount).
Please help me!... to get rid of this aviva company……
They are totall Fraud.

Sir,
I am NNV Subbarao, working in a pvt industry.
We have a insurance policy No : WLG1554528 and ID - 1117240 in Aviva Insurance company which was initiated during 2007.
Regarding my above policy, actually we want to drop the policy during 2008 i.e. after one year. But Aviva people told us that, if we continue the policy for 3 years and surrender it we can get good returns.
After that we convinced and continued for another 2 years even though we have some financial problems.
Now simply Aviva has closed the policy sent us only Rs 13,152/- against minimum paid amount of Rs 39,168/-.
Auto fore closure is not at all justifiable because we have sent mails to surrender our policy during April 2010 and May 2010 also
We made payments for 3 consecutive years to Aviva life insurance company for my policy.

i.e. 2007 Policy is initiated and paid Rs 13,056/-
2008 Paid thru Axis bank cheque no: 166051 on 15/07/2008 ( Rs 13,056/-).
2009 Paid thru ICICI bank cheque no: 496597 on 22/05/2009( Rs 13,056/-).

Total : Rs 39,168/-

Due to some personal financial issues we are unable to continue the policy now and informed the same to them thru email on 26.04.2010 and then they have suggested to surrender the policy during after 30th April 2010. Again we have requested them to surrender it during June 2010.

Simply they have closed and sent us only Rs 13,152/- against paid amount Rs 39,168/-.
They are saying this much only is the surrendering value of the policy.

Kindly look into the issue and organize to get back my full amount.

Please do the needful.
Thanking you sir,
Subbarao NNV.
Mobile: [protected].

The above policy premiums were paid regularly till before June 2010. In June 2010 I decided to look at the surrender value and was surprised to see the SV only at Rs. 106,000.00. Looking at the loss I was making in this policy I decided against further investing and continuing the policy. I paid a total premium amount of Rs.290,976 and have received a surrender value of only Rs.105,000, a loss of Rs, 185,000.

I do not know how I will loose my principle amount despite the market having grown from the 2002 levels to current levels of 2010. I would request you to take up my case as I have received only an amount of approx Rs. 105,000 as final surrender value on discontinuing the policy in July 2010.

I have definitely been cheated by Aviva Life Insurance Co. Please arrange to address my complaint if possible.

Thank you ,

Abraham Moses
Wimbledon Park,
Bldg. No. 4, Flat No 1102,
Near Cadbury, Pokhran Road no 1,
Thane West, - 400606

Cell No. : [protected]

MAINE AVIVA KI POLICY BANK OF PUNJAB(NOW HDFC BANK)SE LI ,3 YEARS KA LOCKING PERIOD BATAYA GYA,LAKIN JAB 4TH YEAR MEI WITHDRAW KARWANE GYA TO 3 YEARS KI JAGAH 30 YEARS TAK PRIMIUM PAY KARNE KI BAAT KAHI GAYI.JO KI COSTUMER KE SAATH FROUD HAI.MY AVIVA POLICY NUMBER IS WTG1510989 BY THE NAME OF JAGDEEP SHARMA FROM CHANDIGARH.MY CONTACT NUMBER IS [protected]

Sub : Reg. unreasonable surrender charges and dismal performance of the fund
Ref: AVIVA Save guard life policy (Policy No,RSG 1632771)
I took a AVIVA Save guard life policy (Policy No,RSG 1632771) on 23/7/2007 with an annual premium of Rs.1,20,000/- . I took the policy through a representative of ABN AMRO Bank. I paid the premiums regularly for three years and yesterday when I went to the AVIVA office at Jayanagar Bangalore for surrendering the policy, I was shocked when the in-charge of the branch told me that I would be getting only Rs. 2,57,000 after deducting surrender charges which is as high as 29% for withdrawals after three years. I have paid Rs.3,60,000 premium for three years without any break and imagine my anguish when I was told that more than a Rs. 1,00,000, would be deducted from the fund value which is around Rs.3,63,000. The in charge put the blame on me that it was my mistake of not going through the conditions of the policy at the time of taking the policy.
In the policy documents the surrender charges are not cleanly mentioned as detailed in the form which is used for request for surrender. Even I was not briefed correctly about the surrender charges by the advisor. Even admitting that it is my mistake in accepting the proposal, I would like you to answer these questions.
1. What is the rationale for fixing the surrender charges at 29% after three years which is nothing short of day light robbery? Are these schemes formed to cheat the customers who reposed faith and invested with the company?
-2-
2. I was not advised about the surrender value clause correctly by the advisor. He was mentioning that I can pay three years premium and surrender the policy and get back 95-96% of the fund value. I am enclosing a copy of the policy document wherein on the backside of the policy the surrender value is mentioned as 1.75% + surrender value on initial units which is shown in the form of a formula. This is intentionally done by the company to cheat the customers and hide the facts about the policy.
For your information I took ULIP policies of 10 years duration with ICICI prudential life and Kotak Life insurance at about same time and surrendered these policies after regular payment of premium for three years. I got back 96% of the fund value which is more than the full value of the premium plus a handsome return on the investment from these companies.
Even the fund value in case of the policy under reference has not shown any growth. Fund value of Rs.3,60,000 premium paid over three years is around Rs. 3,62,000. This shows that funds have not been managed properly by the company. I wonder what sort of fund manager they have, if he can’t make the investment earn a decent return particularly in the last one year when the market saw such robust growth. I am sure that there is gross negligence or misappropriation by the company in managing the funds. The company may be showing a lower fund value by diverting the earnings from this fund. I request you to order an inquiry and investigate into this.

3. These statistics cleanly shows that the schemes of the AVIVA are formed to dupe the gullible customers and not with any service motive to the society which is the main objective of an insurance company.

4. I request you to advise the company to refund at least the premium I have paid in view of the facts mentioned in Para 2 above (misleading the customer regarding surrender value) and initiate suitable action against the company for cheating investors.


Padmini Gopalakrishna

Dear Sir,

It is to state that I worked with Aviva Life Insurance Company Indiat Limited from 11-Aug-2009 to 31-May-10. Further, after leaving the organization, the company has not issued Form-16 (Salary Certificate) and the Tax Deducted at Source Certificate to file Income Tax Returns for FY 2009-10 & AY 2010-11.

When contact their officials several times, they do not seem to be interested in taking pains in releasing my Form-16.

Pls suggest the way forward.

Regards,
Vijay R.
Ex Emp 23099
Aviva Life Insurance Company India Limited
Ph [protected]

To,

Aviva Life Insurance
New Delhi

Sub.: Refund of paid amt. Rs.35,792.00 against non-receipt of Policy No.AHP 2929588

Ref. : My letter dated 15.06.10 on the subject

Your Ref. : Dated 23.06.10

Dear Sir,

On the above subject, please refer my letter dated 15.06.10 in which I had categorically mentioned that though I paid the amt. of Rs.35,792.00 vide Ch. No. 062151dated 30.03.10 for issuing a policy yet the same has not been handed over to me inspite of various reminders on customer care centre & in writing.

In your latter dated 23.06.10, you indicated that the policy was delivered to me on dated 19.04.2010 through Blue Dart. This is not based on facts since policy was never delivered to me by Bluedart. Copy of the POD in this regard has also not been made available for my satisfaction. Further , you mentioned that duplicate documents were sent which were also not received at my end till date.

Needless to mentioned here that in the month of May,2010, your agent had informed that my original policy has been received back in your office & the same will be delivered within a week’s time but it has never been delivered to me.

The result, it is evident that the services of your company is not upto the mark & I am fed up to remind you again & again about my grievance of non-receipt of my policy & hence keeping in view your services, I am not interested now to obtain the policy.

If in the beginning such type of hardships I am facing to get the policy what would be the fate of my claims if arise any in future.

Above indicates that the company is involved in unfair trade practices & not providing satisfactory services to their customers.

I am not in position to waste my valuable time to refer the matter time & again hence request you to please refund my paid amount of Rs. 35,792.00 paid vide Cheque No. 062151 dated 30.03.10 without fail otherwise I will be compelled to take alternate action again the company.

I hope that company will take a prompt action in the matter to avoid any further harassment to me.

Thanking you,



Saurabh Swarup
Dated : 27.07.10 S/O Sh. Mahinder Swarup
18/7, Road No.-18,
Punjabi Bagh,
NEW Delhi-110026
(M)[protected]

Sir/madam,
I am Balakrishnan Pandian working in private company IDS Infotach Ltd-Chandigarh [now it’s become Aeromatrix]. To save my tax in[protected], I asked Aviva insurance police sales manager to advise. He was work in Aviva insurance in Jalandhar branch. Jalandhar is my wife native home place. So planned take police from Jalandhar. I know him through my wife. She also worked with him in other insurance company. After some time she left the company.
Due to new project my company asked me to fly regularly abroad, so I worried about my saving.
So my situation forces me to take insurance police before fly another trip to abroad. I asked Aviva insurance police sales manager give some idea about insurance police.
He showed police, then I asked him to make police and I paid him Rs. 25,000. Then I left for abroad. Then I don’t received any documents from Aviva related my police. The Aviva insurance police sales manager left the job. I am in dark. So I called Custer care they advise to contact Jalandhar Aviva office. I went there to ask some solution. They are not ready even speaking.[lot emails i did before on the same matter. not [protected]@avivaindian.com] I waited half day in Jalandhar Aviva. So I planned to cancel my police the same place. I made some formality in Aviva Jalandhar the same day.
Till date nothing happen. Please help to get back my money.
My detail:
My Aviva proposal no: NUP10929336
Police date: 26 Dec 2007.
My permanent address:
1/29 Kovil st,
Kodampadi village,
Thalangunam Post
Gingee Tk
Villupuram Dt
Tamil nadu-604201.
Temp- Address:
833, Phase-4
Mohali- Punjab.
Mobile: abroad: 0039-[protected]
India no: [protected]
Email:[protected]@gmail.com

Sub: Refund of Rs. 10,000/-
Ref.: Policy Number: PPG1174952
Dear Sir
I have paid first premium on 27.05.05 of Rs. 10,000/- for subject policy, but due financial crises at my end I could pay regular premium. I am now requesting to refund my amount of Rs.10,000/- along with accrued benefit over the five years, but Aviva Life insurance has not been responding inspite sending repeated mails, letters.

Policy no LLG 1220096
Starting date is 27/04/2006 with starting amount of 10000. (later i received rs 2000 some thing back )
On 24/06//2008 and 008/10/2008 i have paid the second and third premium and now company is sayingthat they have receivedd only later one two premiums.My question is where has gone first amount at the time of starting of the policy?
pls clear it and send me the mail on amar.[protected]@gmail.com

Dear Sir/Madam,

I,Mrs. GEETA YADAV claimant of a payor rider policy in aviva life insurance company. My husband had taken a policy in aviva of Premium Rs.100,000 and policy term was 10 years.My husband had taken THE AVIVA NEW FREEDOM PLAN. My husband paid the first premium of policy and unfortunately he had taken his last breath on 4 th April 2010. During the purchase of policy the company promised to pay the sum assured and additional benifit. But when i claimed on my husband's policy the company refused to pay the sum assured and now companay is not paying the premium that my husband had invested. So I am in a very tuff situation.

So, i need suggestion to do something against the company.

Yours faithfully,

Mrs. GEETA YADAV

Dear Breathrens,

Nameskar
For housing loan purposes ; We have taken a policy from AVIVA INSURANCE Company. When we taken the policy, They promised us ; only three years you have to pay properly. If you wish you can further extend (or) Not.

We have paid every year properly and promptly to the company. After Three year ; They have closed my policy without ours knowledge (or) intimation with a loss of 2,00,000/- (Two Lacks).

When we emailed to them ; immediately they says, Alright ; If you want, you can revive the policy. If, we further pay the amount, what is the Guarantee? In future also the same will not happen.

We are losing 2,00,000/- (Two Lacks). We have paid 3,00,000/- (Three Lacks). Having myself senior citizen, They are playing. You the people, please think ; the same thing (or) incident why not happen to you in future ?.

I told openly and clearly. Rest is yours.

With Regards.

V.RAJAGOPAL

Dear Sir
I have taken a policy with Aviva Life Insurance C. Ltd (Policy Number-SAG2674694.)on August 2009, but recievd the policy document in May 2010, when opted for free look because at the the time of taking the policy I was told something, but in the document it was given something else, the company declined the cancelation as according to them they they have delivered to me in October 2009, which I have not recieved.
Also when I checked with the company all the signature on the proposal form and other documents have been copied, the proposal form and illustration on which I have signed at the time of taking the policy has been changed, by doing fraud signatures.
So please help in cancelation of this policy and get my money as company is delining to cancel.

Regards
Disha mittal
[protected]

Name - Amit Chopra
Policy No. LSS2685542
1- In this policy there is a mismatch in my signatures on illustration and application form and forgery has been done with me by company representative of AVIVA life insurance company ltd.

2- All policy features like the premium paying term,returns was not explained properly.

I have followed up with Aviva form the month of oct-2009, and they have not responded properly

respected sir i was buying a policy of 24000/- from your company executive.They tell me that this is a short plan, three year payment and you will get it's double.And now few days ago when i went to your company office ,i came to know that my plan is for thirty years instead of three year and if i want to back my they will give me only 15percent of my payed money. I payed for three years.I am totally misseled by bank and company agent.So sir please refund my full money. I have much more need of for son's admission in engeneeing collage.Sir give me proper justice.My name is Sukhpal Singh. My mobile no is [protected] you can give me a information on my this number.

This is in reference to my insurance policy number LLG1145754 with Aviva Life Insurance that I had taken in 2003. I want to highlight the financial loss, gross misrepresentation, failure to meet customer service commitments and customer records maintenance I have experienced with Aviva in reference to my policy. The agent for Aviva, one Mr. Anshuman Sharma who is an employee of Aviva and had issued the policy for me on behalf of Aviva, along with Aviva Life Insurance on the whole have cheated and misrepresented with me on the following counts:
I was informed while taking the policy that there will be no surrender penalty but that is not the carse
• In the year 2004, I had placed a written request with Mr. Anshuman Sharma for moving my policy from the balanced option to growth option considering the then stock market boom. My policy allows me to make this change and Mr. Anshuman Sharma had confirmed that he has placed the request with Aviva and the same will be processed. The request was never placed with Aviva and consequently never processed however Mr. Anshuman Sharma kept falsely assuring me that the requested change has gone through. I have since, taken a significant impact on the NAV of my policy because the rightful opportunity to earn more growth on my policy was denied to me and I have borne negative financial impact as a result of the same.
• Along with the above mentioned request, I had also placed a written request with Mr. Anshuman Sharma for updating my address and similar to the fate of the above mentioned request it was never processed while Mr. Anshuman Sharma kept falsely assuring me that it has been done.
• Mr. Anshuman Sharma once subsequently called me and forced me to take another retirement plan from him as he explained that he is due for a promotion and wants to meet a certain target of business achieved by him, I explained to him that I have no such needs and he was rude with me and refused to answer my questions on my existing policy.
• As a result I called Aviva customer service and I realized all these discrepancies. I immediately placed a telephonic complaint in the Aviva customer service and I was assured that these discrepancies will be sorted and I will get a response from the Aviva complaint addrressal department. No such actions however were taken.
• I received a call from a person claiming to be Anshuman Sharma’s supervisor who took all the information from and then promised to look into it and get back but he never did. Mr. Anshuman Sharma also called me once and tried to provide illogical explanations for these lapses and persuaded me to drop the matter and when I conveyed my firm stand on the matter, he was rude to me and hung up.
I have not been able to follow up regularly on these issues with Aviva due to paucity of time and I never seem to get anywhere in terms of a solution whenever I have tried to take up these matters with them. I have only received false assurances, stress and anxiety over and above financial impact in my dealings with Aviva till date. I therefore have no option but to place this complaint with you and I seek;
• Compensation for the financial loss
• Updation of my records with Aviva
• Action against Mr. Anshuman Sharma and all others responsible.

I have tried tried to call aviva on their helpline recently as well and either they hang up on me or promise call backs which don't happen.

Kindly look into the matter and help me with the same.

Respected Sir,

It is submitted that I am a Policy no. ALI2863953 was sold to me by Mr. Bhupinder Singh Thakur, Sales Manager in Mohali Branch. The terms of the policy were not acceptable to me and I requested for Free Look of policy. The Policy was returned to AVIVA within 15 days from the date of policy issued through e-mail & policy documents were also returned to AVIVA through Courier. The same were got returned from the Aviva, which were again returned to AVIVA on 20/02/2010.

Later-on, when inquired it was informed that policy holder requested to get the policy continued. But it is to intimate you that no such request for continuing the policy was ever made by me.

It is further mentioned that I can go to Insurance Ombudsman but being a vendor of Aviva I am not approaching ombudsman. It is therefore, prayed that the above policy may be cancalled and amount deposited may be refunded to me.

Please look into this matter and help me..........

Thanking you,

Yours Sincerely,

Mayank Goel
(M) [protected]
# 55, H.S.A.M.B., Sector - 14,
PANCHKULA (Hry.) - 134109
E-mail: [protected]@yahoo.com

Dear Sir,

I am customer of Aviva and have 2 policies on my name. The background to issue is
• On 11-May- 2010, I received a letter dated 21-Apr-2010 from Aviva regarding revision in policy admin charges. The effect date for the same is mentioned as 1-Jan-2010.
• Since the revision was backdated and without customer notification, on the same day itself, I asked Aviva about the reasons for not notifying in time and the term & condition in policy which allows Aviva to revise the charges effective from back dated.
• On May 12, I received email from Aviva regretting the delay in communication and I was asked to refer Article Number # 17.7 from policy Terms and Condition.
• The Article Number # 17.7 states “Each month an appropriate number of Accumulation Units, including parts o[censored]nits allocated to the Unit Account in respect of Regular Premiums will be cancelled at their respective Selling Price as monthly charges to meet the Company’s administration expenses. The initial amount of the monthly charge is mentioned in the Schedule and will be reviewed and adjusted annually by the Company having regard to its expenses, inflation and any changes experienced by the Company in the cost of the administration of policies. Any annual increase will be limited to 15% of the previous level of the charge”
• Aviva in that mail has agreed that there is no clause that states that the revived Admin charges can be effective from back dates.
• Since there was no such clause, I have asked Aviva to revise the charges effecting from 21-Apr-2010 (the date on which the communication has been sent) instead of Jan 2010. However Aviva has simply denied accepting this. I had several communications in this regard (on the following dates: May 13, May 20, May 21, May 23, May 31, June 3) but there is no clear response from Aviva on this.
Since there is no constructive response from Aviva, I am arrived at the position of raising the complaint against them to you. Request you to kindly look into this and suggest the nest steps.

My PF claim was submitted on 11-OCT-2009. No settlement has been received yet.I am still waiting for for the same.
You are Requested to pls do the need full asap & please Contact me on this no.[protected].



Thanks
PF account no.-DL/25803/16130
EMP CODE. 16242
Name:-VIJENDRA KUMAR CHOYAL
Employer Name:- AVIVA LIFE INSURANCE

Sir,

I have subscribed to a Policy of Aviva Life Insurance through Centurion
Bank of Punjab. I was conveyed that this policy has a three year locking period. I needed to pay premium for three years, which I paid and then I can withdraw my money anytime I want. But now when I tried to surrender the Policy, I was communicated heavy deductions if I surrender before 10 years.

Now, it is been three years and where can I go and find the person or whom should I hold responsible. ...? I feel cheated.

I paid money regularly and now at the time of return, i have been told heavy deductions, Forget about the interest for three years, I was offered very much less than even what I have paid.

I am so much frustrated with AVIVA that I want to surrender my policy at any cost, even if I am going to suffer heavy loss. But I want to know who is responsible for this. Whom should I address if I plan some legal actions...?

Policy Details:

Policy Number : WTG1313788

Insurer Name : Mohitkumar Sharma

Premium: 30,000/-

Period : 3 years

My Details:
Mohitkumar Sharma
B/303, Alekh Complex, Chanakyapuri,
Ghatlodiya, Ahmedabad - 380061
+91 [protected]
mohitkumar.[protected]@tcs.com


Request for your guidance and cooperation.

Thank you.

Regards,
Mohitkumar Sharma