Birla Sun Life — Fund is not received of Surrendered Policy even after 40 Days!

Address:

Burdwan, West Bengal

I went to Birla Sunlife office, Asansol, WB branch for surrendering my two policies (policy no[protected] and[protected] on 19th May 2015. I was told that because of the link failure in the branch, the policy cannot be surrendered and advised me to come back tomorrow. The next day on 20th May 2015, I was told the same thing by the officials responsible for taking policy surrender request. So, I visited again the branch on 21st May 2015 for the same reason. Fortunately, there was no link failure on that day (I didn’t know how could a link failure affect a policy surrender request). I was then requested to visit the branch manager before surrendering my policy. The branch manager seems very polite while talking to me and also offered me a cup of coffee. He then convinced me to take transfer instead of full surrender. He explained me that the policy would give me at least 15-20% return for sure irrespective of how the market behaves. I doubtfully asked too many questions about the new policy but every time he answered me with the same thing about market independency of the return value. I then asked him if later after reading on actual policy documents, whether I can cancel the same, he told me that I could cancel that. Knowing this much about the policy, I gave my green flag to what he advised me and signed the policy application (A[protected] with doubt. I also submitted my original policy documents along with other required documents needed with the branch. Three days later (around 24th May 2015) when verification call arrived about the new policy, I asked few questions about the policy from the caller. I then, was surprized to know how the sales branch head misled me about the whole policy. I then straightaway decided not to go with the new policy, so I instructed the caller to immediately cancel the new application and go with the normal surrender process, i.e. to refund full surrendered amount (I insist you to please listen to the recorded call to verify this fact). I then call the branch manager about the new policy details once again and told him about the differences of what he said with the verification caller. But he again misled me by saying that I should not believe in the verification caller, they say like that only and they didn’t know about this new policy and what he is saying is right. The branch manager then told me that he would meet me at my home to sort this out. But he neither called me back nor came to meet me. I waited for 3-4 more days then I found one of the two surrendered policy had been processed and fund value got credited to my account. I called the Customer service regarding refund of my 2nd surrendered policy. I was told that it will also be processed within few days, as 10 days has not passed since I surrendered my policy. Meanwhile, I called again the branch head, he again told me that he would come to meet me, but that never happened, later he stopped picking my calls. I waited for few days and then I had to call again so many times to Customer service because every time I called, the caller told me the same thing that someone from there would call me back and to inform me the status. BUT, THIS NEVER HAPPENED. So, I dropped a mail regarding my concern on 2nd June, the auto generated mail gave me 41481950 as interaction id. Every time passes is a loss to me and this loss to me is not because of me, it is because of the lack of communication from your end and misled by one of your sails officers. When 10 days had already passed, I added one more concern related to the existing one. I demanded an interest to be paid to me along with the fund value as on 21st May 2015. I then started tracking that interaction id, but every time, I do that, I was told “THE BACK OFFICE IS LOOKING INTO IT, WE WILL UPDATE YOUR STATS SOON”. Since then a month have been passed and I was given a resolution that is completely one sided. I belong to a middle class family and the money involved here is huge to me. My call record says that I have already talked more than 5 hours with your Customer service from past one month. I am almost frustrated with this much amount of explaining from past one month. My physician has told me that my average blood pressure has increased a lot from past one month. So, clearly you can see I have already suffered a lot because of this; I don’t want any more suffering related to this. Any delay in this would cost us both me and you. Kindly re-investigate the stated issue with the new input, if any, was missed during the preparation of last resolution. My demand is simple and valid please refund my fund value as on date 21st May 2015 (or 22nd May 2015 as per your record) of the said policy[protected] with interest due to delay.