I had applied for a policy with the company and issued a cheque of Rs.18, 720 (Cheque No. 484426) which was encashed on 30/06/2008. The agent sold me Saral Jeevan Policy of 15 year terms but premium calculated on 20 years term as is the special discount to me. The POLICY NUMBER for the same is[protected]. Their agent promised me of issuing the document within 15 days. But so far I have not received the documents. So I raised the complaint with them and case id number is[protected]. After that I followed up with them number of times but received no response. Finally I put a request for cancellation of the policy on 12th September 2008, with signed letter (as I heard the misdeeds which came true; see below).
When I went for this policy, I enrolled one of my friend also for the same policy with the same benefit as mentioned above. He also faced the same problem; policy document not received. After many follow ups he receievd the documents, but to the utter surprise of every one o[censored]s, someone has rubbed the tick against 15 years term checkbox and themselve ticked 20 years term checkbox. This is purely a case of cheating. This turned my fear in to reality.
Just few days back I received a call from them for the delivery of documents, though I already put the request for cancellation. So I told him not to deliver the same.
Next day when I spoke to Ms. Deewangi, Sr. Manager on HELPLINE number ([protected] and [protected]), she informed me that if I cancel the policy now I will not be getting any money as policy is already issued as per their system's record. This is contrary to the fact;
One I have not received the policy Documents yet.
Second, even if policy is received by the client, there is 15 days grace period for the customer to cancel the policy and in that case only administration charges are deducted, as per IRDA guidelines.
Neither of above happened till now, so where is the question of zero refund.
Also I am not cancelling the policy because of any problem from my side, but due to the fiasco and goo[censored]ps from Birla Sun Life
(and also cheating with my friend) and they are blaming their agent; Angel broking
firm, for all these. So there is no question of any charges at all and if it then, they should charge to the agent not to the customer. They are the main culprit and did the cheating.
Please help me in this matter.