[Resolved]  Aviva Life Insurance Company India — Complaint

Address:

Ludhiana, Punjab, 141008

Notice

To,
The Managing Director Aviva,
Aviva life insurance company limited
Head office Aviva Tower, Sector road,
opp. Golf Course, Phase V,
Sector 43, Gurgaon 122003 .


Sub:- Notice to Paid up the Premium against policy no. WLG1585670
and
refund the total amount against the said policy immediately.
respected sir,

under instructions and on behalf of my client Mrs Mamta Rani Resident of 1932/114, St. No. 13, Gandhi nagar, Back side Chand cinema, Post office Shivpuri, Ludhiana 141008 holder of Aviva life insurance company limited, Policy no. WLG 1585670 with its client ID 1171435, frequency annual premium amount 10, 000/- with branch Ludhiana, agent code Y0516210, I, Raj Kumar Karir advocate serve you notice with the followings

That my client is the holder of above said policy i.e. no. WLG 1585670 with Aviva life insurance company limited.
That it is pertinent to mention over here that the mother of my client Usha Rani is also policy holder no…. WSG 1566125 commenced dt. 24 may 2007 and my client is regularly paying the premium of the said policies and this year the premium for policy no. WSG 1566125 has been paid with total required premium and then my client visited the Aviva life insurance company limited regional centre at Firoze Gandhi Market Ludhiana and where she contacted executives / employee working with Aviva Life insurance Company ltd. She inquired about the growth of the funds invetsed in Aviava Life Insurance Company Ltd. and after inquiry, she shocked to know about the status of policy no. WSG 1566125 that the amount has been paid total amounting to Rs. 1, 00, 000/- ( one lac ) by my client to aviva life insurance company Ltd. and after a span of ten years period of paying regular payment in the form of Premium of 10, 000 each year, rather the Aviva life insurance company limited company will have been paying only 85, 000/- against the paid total premium 1, 00, 000/- on next year .
That the executives present in the office further stated that Aviva life insurance company limited will not be paying any interest on the total premium paid 1 lac against the said policies to my client . The executive further stated that after deducting some charges from the policy total premium of amounting to Rs. 1 lac, an approximately 85, 000/- shall be paid on next year against the maturity of policy no. WSG 1566125.
That this statement of executive of Aviva life insurance company limited has shaken the faith of my client on the Aviva life insurance company limited. Further my client came to know from the aggrieved present in the regional office of Aviva Life Insurance Company Ltd. that all these fraudulent have happened with them also.
That now my client has decided to paid up the second Policy no. WLG 1585670 for which the premium required to be paid for further 25 years which she came to know about the term of 25 year only after the first receipt of policies paper . whereas this 25 years term was not disclosed at the time of filling the form of Policies by the sale executives and my client even complained of it to the sale executive /agent (agent code Y0516210 ) as my client has not seen any performance and increase or growth in investment in this aviva life insurance Company policies .
Hence my client is not desirous to pursue this policy no.WLG1585670 further as the executives aviva life insurance Company Limited has clearly stated that we are not bound by the statement of sales executives /agents . neither Aviva life insurance company limited have issued any written guarantee of maximum gain on the premium to said policies, Nor the aviva company will pay more than the invested amount alongwith interest at this stage of passing 10 year of Premium paid . The Aviva life insurance company limited shall not paid total amounting to Rs. 1 lac paid by my client against policy no. WSG 1566125, (The total one lac Rs. i.e. 10 premium amounting to Rs. 10, 000/- P. A of the said policy is already paid ) to aviva life insurance Company . further its executives stated to my client that Aviva life insurance company limited is not responsible for growth of amount deposited by the my client till today against the second policy i.e. WLG 1585670 even.
That it is worth mentioning over here that the sales executives at the time of Signing policy application form assured my client that the company will paid tremendous return on the premium amount invested in aviva life insurance company ltd. i.e. the sum of Rs. 10, 000 paid Per.Annum against policy no. WSG 1566125 for ten year will grow the 1 lac amount to 3.50 lac at least along with life insurance and further sales executive assured my client that on the completion of second policy no. WLG 1585670, my client will get more than 50, 00, 000/- (Rs.fifty Lac.) on the total premium paid to the aviva life insurance company ltd. for further 25 years period and in the end of 30 years duration. The sales executives has shown Sachin Tendulkar renowned Indian Cricketer is the Brand ambassadors of Aviva life insurance company limited and even sachin has shown full faith in the company through that Advertisement and sales executives has assured my client about the tremendous growth of invested premium in the policies of Aviva life insurance company limited . Only these promises and assuring words of guaranteed growth by the Sales Agent of Aviva life Insurance company Ltd. and assurance of tremendous return on investment has made the mind of client to invest in these Policies otherwise if my client knows the actual and factual status of present scenario of policies and Aviva life insurance company limited, she would never have invested her hard earned money in the policies of aviva insurance company ltd.
That it is also worth mentioning over here that the sale agent / executive of aviva life insurance Company had got signature of my client on printed format application paper of aviva life Insurance Company and my client (being house wife ) also signed the same in good faith only. Even the sales agents/executive had not disclosed the duration, terms and others conditions for the policies and filled the rest columns of the format form for application for life insurance policy himself lateron on the basis of documents and identity proof.
That My client came to know about the premium of 25 year to be paid lateron only after receiving the first premium receipt. But the sales executive/agent assured my client that she can paid up the policy any time and get the amount withdraw at any time after three year from the date of start of policy in the name of lock –in- period condition . my client had no knowledge of the technicalities of such type of aviva life Insurance policies . Hence a fraud had been played with my client at that time by the sale executive/agents of aviva life insurance company ltd.
That now today all the promises and words of sales executives/ agents of the Aviva life insurance company limited have proven false today when my client has come to know about the status of first policy of ten years of 10, 000/- Rs as premium amount Per Annum against policy no. WSG 1566125 i.e. total 1 lac amount already paid to Aviva life insurance company limited and the growth has not been shown at the date of maturity and rather the refund amount has been declared as 85, 000/- against the amount of Rs. 1, 00, 000/- paid my client to Aviva life insurance company limited after a span of Ten Year.
That my client is not desirous to follow the said policies .
Hence my client has been cheated by the sales executive/agents of aviva life insurance company ltd.

It is therefore notice you to paid up the policy no. WLG1585670 immediately and refund the total premium amount along with interest for 10 years on the amount paid on policy and also manage to refund the first policy no. WSG 1566125 commenced dt. 24 may 2007 of 10, 000/- premium per annum for 10 ten years, total premium of which has already been paid my client to you timely and which is already in a mature period/stage, within 15 days from the date of this notice to you .
Failing which I have clear instruction from my client to file criminal complaints against all of you the Director /Executives/sales Agents/ for your fraudulent, mischievous act and conduct and knock the door of Civil and as well as Criminal Court of Law against the fraudulent, illegal act and conduct of Director/ agents / employee / sale executives for policy of Aviva life insurance Company Ltd. ..
As Policy seller/agents misguided and alluring / fascinating the public at large to invest the hard earned money of the public in Aviva life insurance company limited policy and make wrongful loss to the public by Aviva life insurance company limited through their fraudulent agents and its Directors,
and
Further for criminal breach of trust by merchant / Director / employee / Agents / etc. of Aviva life insurance company limited by using the funds of public at large and make wrongful gain to the Aviva life insurance company limited and wrongful loss to the public at large in the name of investment in Aviva Life insurance,
And
For cheating by Director/executives and its sales / agents / manager of Aviva life insurance company limited and thereby dishonestly inducing delivery of hard earned money of the public to Aviva life insurance company limited in the name of insurance premium and whose interest the offender (Director / employee/ agents /manager of aviva life insurance company Ltd.) was bound by law or legal contract to protect .
Sincerely
note_hard copy of the complaint is sent you separetely
and through attachment here with also complainant
mamta rani and Usha Rani
Through counsel
Raj kumar karir advocate
ph. [protected]