Birla Sun Life Complaints & Reviews

I had applied for a policy with the company and issued a cheque of Rs.18, 520. The agent sold me Saral Jeevan Policy of 20 year terms. But I got negative feedback of this plan from other insurance company, saying that I will not get full amount whatever I invest after so many years, hence I cancelled the policy within 15 days. I raised the complaint with them regarding the agent. After that I followed up with them but received no response.

They initially told me that I will get full amount returned back to me if I cancelled it in 15 days, but this is not true. I got Rs.1500 less saying that fund valu was decreased for that period.

Also I have not cancelled the policy because of any problem from my side, but due to the fiasco and goo[censored]ps from Birla Sun Life and 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.

What can I do to get my whole money back against them?

Sir

I have invested in Birla sun life mutual fund as a SIP in tha name of Janhvi Mehta against folio no. [protected] in the secheme of Birla sun life equity fund.i have provided him 6 cheques.But all the cheques has lost in courier.the company has said all the charges of 6 cheqes will compainsait you.but now one month has ago no one is listen me.

rgds

vikram mehta
[protected]

Below email sent to "I_CustomerService" <[protected]@birlasunlife.com> on 27 Oct 08 but yet to get any response. I need urgent refund of money

========================================
Pl find below the below requested details . There are 2 Policies . Pl let me know if I want to withdraw now, how much can I get.

A ) Client id / Policy Number - Policy No[protected] Ms Oindrilla Sen (Policy Holder)

Date of Birth of the policyholder 8th December, 1996 (08/12/1996) - Oindrilla Sen (Policy Holder)
and your communication address 149 / D GARFA MAIN ROAD, KOLKATA 700075, WEST BENGAL, INDIA

================================================================================...⇄

B) Client id / Policy Number - Policy No[protected] Mr Rajat Kumar Sen (Policy Holder)

Date of Birth of the policyholder 27 September, 1965 (27/09/1965) - Rajat Kumar Sen (Policy Holder)
and your communication address 149 / D GARFA MAIN ROAD, KOLKATA 700075, WEST BENGAL, INDIA

================================================================================...⇄

Hi All,

I bought a policy with Birla sunlife last December (Dec 2007). I have to admit that I am a layman when it comes to ULIPs. I was completely brainwashed by one of Birla sunlife's agent that Saral jeevan offers excellent returns (30%). I bought the policy on December 12th. Policy number is[protected]. Premium amount was Rs 50145 (Fifty thousand one hundred and forty five). I received the policy document promptly and was schocked to see that there were monthly charges of Rs 1551.39 on the policy. A net amount of 18616.68 Rs would be deducted towards charges in a year, which is nearly 40% of the premium that I have paid. When the agent came to my house to get my signature and cheque, he gave me a brochure which HAD ABSOLUTELY NO MENTION OF CHARGES. I felt cheated. I called him up and told him to cancel the policy. He told me that there are indeed charges in the policy. However, they are applicable only after the policy starts yielding returns..meaning the charges will be deducted from the profit and not from the premium amount. The premium amount of Rs 50145 will remain intact. After three months, I placed a call with Birla sunlife and I was startled to know that they have indeed deducted monthly charges on the policy. I got furious and asked them to cancel them the policy. They cooly replied that the surrender value of the policy is in negative.. meaning that I have to pay more money to cancel the policy. Ridiculous!!

I contacted my agent and he said that he will do the necessary to cancel the policy and that I will get my Rs 50145 after 3 years. I contacted the helpline and they said that there is no way I can get the money. They said that I have signed the policy and had a 15 days grace period to get out the policy. When the agent came to my house to get the form filled up he gave me a template to fill up and took just my signatures on the application form. I now know why he gave me a template to fill up and not the actual application form. The application form has all the charges listed in it. He wanted to deliberately hide the information about the charges on the policy.

This 50145 Rs is my hard earned money. I have worked round the clock to earn this money. I decided to fight against this misselling. I launched a complaint with Birla sunlife. They said that they will escalate it to the highest level possible. Finally I got a letter stating that my claim is not valid as I have signed the application form.

I have gone through a lot of mental agony over the past 10 months. As you can recall, I had invested about 50145 Rs in December 2007. Currently the value of the fund ( as of today - 31st October) is Rs 10984. Can you believe this? I am not going to renew this policy. No person on earth would renew this policy.

Birla Saral Jeevan is a clear case o[censored]LIP misselling. But I am a common man and can do little against a big corporate house like Birlas. I will however advice you all not to buy this policy.

Better go in for LIC policies.. They are far better in terms of coverage and benefits. I would like to end by saying that the I feel cheated, deeply hurt and never expected this from a corporate house of Birla's calibre.

I would like to know the IRDA's stand on ULIP's misselling. Such things can happen only in a country like India.

Best Regards,
Karthick

I invested in Birla Sun Life 96' Tax Relief Mutual Fund in Aug'08 under SIP of Rs. 2000/- p.m. In the month of Oct'08, they deducted Rs.2000/- as per my regular SIP amount but along with that, they also deducted another Rs.2000/- for another SIP thru ECS!!! On enquiring about the same, I am told that your have applied for another SIP and when I asked for documents in support to what they say, they are fumbling now. No response at all! My Bank (AXIS Bank) has denied to help in this case since according to them, they have no control over ECS! I am now very much anger & confused as to where should I go?

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.

In May’2007, I had evinced an interest in Birla Sunlife’s Children’s Dream plan and accordingly tried to contact Birla Sunlife branches in Faridabad and Janakpuri, Delhi. Soon I had received a call from Mr. Harindar Rai who introduced himself as Agency Manager in Birla Sunlife Insurance( Scanned copy of his visiting card enclosed) and promised to arrange a rebate of 30% on the first year premium. As the rebate was attractive, I readily agreed and applied for the Children’s Dream plan. The nature of payment can be verified from the first premium paid alongside the application – Rs. 3070/- (which is 70% of 2 x 2192 = 4384) vide IOB cheque No.807342 and Rs.1314/- as cash ( which is exactly 30% of 2 x 2192 = 4384 i.e. the rebate promised) deposited by the aforesaid Mr. Harinder Rai himself. I was told that the next rebate on premiums would be deposited directly to my HDFC a/c. Later I had received Birla Sunlife’s policy no.[protected] with client ID [protected]. Since then I had paid all the premiums due but no rebate had been passed on to me as yet as per the promise and this Mr. Harinder Rai the Agency Manager of Birla Sunlife had become incommunicado.

I had made several written and electronic complaints to Birla Sunlife Insurance requesting to cancel the policy made by wrong enticement and refund the premiums or at least the the NAV of the units outstanding to my credit and not to further process my policy payments. But Birla Sunlife is yet to address these grievances of mine. Please look into the matter and ensure that the aforesaid policy is cancelled and get the premiums alongwith interest or I should be passed on the rebate as promised from the commission of the concerned insurance agent or that Harinder Rai.

Dear,
I applied for a PAN card at Bajaj Capital in chennai, when i received the card it was found that my grandfather's name mentioned instead oy my fathers name, i reapplied through a CS form in vellore, after 3 months people returned back all the forms saying that they were not able to rectify.

I have couriered all the papers with the PAN card to Income tax PAN services unit, mumbai.

Please help me to solve this issue. How do i proceed further

Hello sir,

This is to bring in your notice that my name is DeviPrasad Pandey. I have taken birla sunlife insurance policy.
My policy number is:[protected]
Premium amount:6250

I became shocked when I got a overdue letter from Birla sunlife and it was also mentioned in the letter that my policy is going to be elapsed. Really horrible.
Current due date was 6th april 2008. I have taken it in quarterly mode.
Now I going to tell u everything what has happened from Bilra side and how irresponsible these people are.
My last due date was 6th Jan 2008. Before January I was paying premium by ICICI EMI card (EMI Smart card) . In December end I requested ICICI to lock my card as I am not going to use it any more. They told me that they will do. So to avoid any elapse in premium I paid Birla sunlife premium in cash because I was in impression if my card has been closed then premium will not be paid by card to Birla Sun life.
Unfortunately the card was not locked so the premium again paid to Birla Sun life by card.
I mean Birla people got two times premium for January month (12500 rs).
I got two sms from birla that premium has been received twice. I have the receipt and card statement both .
I called in Birla customer care and told customer care guy to return my extra money as it has been gone twice . He told that it will be returned in 7 working days.
He gave me this reference no also:[protected]
I followed Birla people and as you know in customer care every time you get new character and no body takes the responsibility. I was waiting for money but I could not get it for 2 months.
So again I called Birla people and told that if you are not ready to return my money Please adjust it for my next premium (6th April)
I gave them my number([protected]) also so they can call me as every time their server is down.
Again Birla customer care told me it will be done sir. But unfortunately as they people are not responsible so nobody did anything. And I was shocked with that overdue premium notice letter.
Every time Birla customer care says SERVER is DOWN Server is down. Is this my fault that their server is down or they people are this much irresponsible?
See, I am a middle class person working hard to earn and 6250 is not small amount for me so I am not going to leave them . And also I have paid premium for more than a year and they people are saying that policy will be elapsed.
I will bring this matter in consumer forum because I am not wrong. I have all the receipts and statement.
So please requesting you, to do something for me o.w these people will take all my money and will return me nothing. I have earned it hard and have saved for my future but see how these people are saying that policy will be elapsed
Thanks
DeviPrasad Pandey

To
The Manager
Birla Sun Life

Dear sir / ma'am
This is to bring to your kind notice that I have a policy with your firm, policy no[protected]. the same was opened on 13/01/2008 but due to misrepresentation of facts by the executive I decided to withdraw the same by availing the 15 day free look period. the free look cancelation was submited and received in your office on 23/01/2008. Since then there was no communication from your end and idid not get back my refund.
On enquiry it was found that my request of free look cancelation had been rejected and a letter in this effect had been sent on wrong address on 31/01/2008.
Sir, it is a shock to know that a company of your stature is not handeling its operations in a professional way, i regret to say that LIC will provide a better and personised service as compared to you.
please look into the matter and get it resolved at the earliest else i will be forced to escalate the matter to your senior management and file a suite against you and the executive who had visited me. Please dont take it lightly.





Thanks & Regards
Sarvesh Kumar Singh
PH:[protected]
singh.[protected]@rediffmail.com