[Resolved] Aviva — misselling of AVIVA ULIP Policy by ABN AMRO & AVIVA Sales Team | |
Dear Sir/Mam, This is in reference to AVIVA ULIP Policy that was sold to me on 13/11/2007 by ABN AMRO Bank employees accompanied by AVIVA Bank asurrance employee. My policy details are as follows: Policy Name: AVIVA Saveguard Policy Number: RSG1315285 Premium amount: Rs. 18000/- Selling Date: 22/08/2006 I would like to highlight the following points in connection with this sale: a) These guys introduced the company AVIVA and its product offerings to me. b) They miss sold the product to me as they never informed me about the charges associated with the policy even after the lockin period,(Now only, that too after constantly probing the customer service desk I am informed that there is no partial withdrawl and only option i have is to surrender the policy and they will cut around 40% of fund value as surrender charge. As per the IRDA guidelines they can cut a nominal ammount if some one surrender the policy before 5 year but i am surprised that 40% is not the nominal value so how can they cut that much amount.) c) Contrary to this, I was given verbal assurance that I'll get an amount of close to Rs. 60,000/- on my investment of 54000/- after three years which is again an act of miss selling the product. In addition to this I was informed about many other benefits about this product. d) I was quite skeptical in going for this product but after continuous pursuals and assurances by these guys and follow up calls by AVIVA Sales Manager & ABN AMRO Bank Manager, I finally went for it. e) I feel that this is a very unethical act by your company as you first lure the customers by showing the sunny side and once they fall into your trap, only then they get to see the flip side of it.and i am also suspecting the future of aviva in india if they will follow the same way. I have also sent a log a complaint regarding this to aviva customer care. I hope you will take a strict action against these companies and please suggest me the way how can i ( as a responsible resident indian/tax payer) get my money back from them. Best Regards, Sagar Chaturvedi Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 3 Comments | |
Comments
I have two polices and paid 1, 60, 000 and now are ready to pay only after deducting 40% of fund value.
I Agree ..Even I am investing in Aviva and after 5 years I though that I should take all the money out as I wanted to invest the money in some thing else..I though I will be getting some extra money.What I found was I will be getting 20000 less.I called up aviva customer care and they said it depends on market.I checked my portal and found that market rate was 3000 less than the amount that I had invested .Rest of 17K goes as bunch of hidden charges which I was not informed about.Now I don't know how to get my lost money .I also asked them that I want to stop my premium payment .They said I can do that but I will still be paying admin/xyz charges until I close it .I think authorities should take some action on this.
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Aviva Tower, Sector Road, DLF Phase V, Sector 43, Gurgaon, Haryana, India - 122003
I was also mis sold this policy by ABN Amro. I went to open a FD and I was told this policy will fetch me 30%. I trusted ABN Amro and now I am trying to save hard earned money,
ULIP is not giving any returns and I am now 60% down on mu capital.
Aviva is not good and they dont even appear in any ULIP rating.
I stopped banking with ABN Amro also.
Thanks
Savan