[Resolved] Aviva Life Insurance — IMPROPER INFORMATION | |
I took the policy LLG.1187424 from AVIVA LIFE INSURANCE through their agent Rohit jain LUDHIANA. At the time he told me the policy has three years lockin period and i have to deposit RS-10000/ p/a for minimum period of three years, and after three years if i wish i can get the full payment of my UNITS @ of current N.A.V of the units, But now after giving the installments of RS- 10000/ p/a for three years the company is now settling my a/c by giving the payment of RS 6600/-after deducting 70% of my units. which is very unfair since i have invested my hard earned money to get some good profits and growth. TOTAL AMOUNT INVESTED IN THREE YEARS--30, 000/- TOTAL AMOUNT OF 100% UNITS --23, 000/-(APPROX. AS PER CURRENT N.A.V) PAYMENT BEING MADE BY THE COMPANY -- 6, 600/- SHORT PAYMENT --16, 400/-(APPROX) THIS SITUATION HAS BEEN CREATED ONLY DUE TO THE IMPROPER INFORMATION GIVEN BY THE AGENT ROHIT JAIN AND I HEREBY REQUEST YOU TO FORWARD MY COMPLAINT TO THE TOP MANAGEMENT OF THE COMPANY AND FURTHER I REQUEST YOU TO PURSUE MY COMPLAINT. SINCE THIS LOSE IS VERY BIG FOR ME. Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 7 Comments | |
Comments
Respected Sir,
I truly agree to the above mentioned problem faced by the complainant, because I myself face the same problem, My policy number ic LLG 1160607, even I was told by agent mr Balaji Bhattacharjee ( financial Planning Consultant) the same thing. The hard earned money I have insured with Aviva trustfully is lost.
The agent was misleading and I have lost faith in Aviva Insurance, it is too unfair, if you can do something on this will be very appreciated and would support my family in a pleasant manner, I have visited my nearest branch and was disappointed that my hard earned money is no more there that I have Expected, its reduced to 1/3 rd of the investment.Anyway I don't have any hope in getting my money back, atleast my invested money back if I surrender.
2nd floor,
trade centre, north main road,
koregaon park,
pune,
maharastra,
India
thanking you & awaiting for a favorable reply through mail or mobile no.[protected]
Please consider this as my complaint and do the needful & please educate your staff & not to mislead any investor .
with regards,
Murali
with regards
I truly agree to the above mentioned problem faced by the complainant, because I myself face the same problem, My policy number ic LLG 1160607, even I was told by agent mr Balaji Bhattacharjee ( financial Planning Consultant) the same thing. The hard earned money I have insured with Aviva trustfully is lost.
The agent was misleading and I have lost faith in Aviva Insurance, it is too unfair, if you can do something on this will be very appreciated and would support my family in a pleasant manner, I have visited my nearest branch and was disappointed that my hard earned money is no more there that I have Expected, its reduced to 1/3 rd of the investment.Anyway I don't have any hope in getting my money back, atleast my invested money back if I surrender.
2nd floor,
trade centre, north main road,
koregaon park,
pune,
maharastra,
India
thanking you & awaiting for a favorable reply through mail or mobile no.[protected]
Please consider this as my complaint and do the needful & please educate your staff & not to mislead any investor .
with regards,
Murali
with regards
Policy No. LLG1137361. In the entire issues it is seen most have them were told that there is a locking period of 3 years and they can get the entire money with returns after 3 month if wish to withdraw. Aviva ia a big fraud and they have passed this message to everyone with misguidance. We need to have a solution to this. This is a Big time fraud policy. If anyone interested to go with Aviva Policy kind request not to buy any any any policy from Aviva. They are big time FRAUD. Currently Aviva stand 12 Insurance company among 15 Insurance company, from this i hope this will let you know Aviva's Standard.
Complaint form available on this link: http://www.irdaindia.org/grievance/complaintform.pdf
they all cheater and living at the mercy of our poor govt. policies!!!
I have invested in LLG1194096 for a sum of Rs.30000 per year. I too was shocked to see that my insurance status is in Paid up mode and 70% of my initial investments are getting deducted for maintenance. The problem is, I have invested 90000 in 3 years (partly in growth and partly in balanced). But since it is in paid up mode, if I close his account I've been told that I will get only Rs.29, 000 and my insurance will cease to exist!!!
1. What happened to the remaining money and the money that has been invested in the secondary market?
2. Why we have been told that the lock in is only for 3 years after which we can get the amount invested along with the gain from the market?
3. Why AVIVA is not sending a personalized statement (A statement which should inform the amount invested and the growth of MY amount in the share market). I would have invested in different period of time and I want to know what is the growth of MY FUND (with respect to MY investment). What I usually get as a letter is the overall growth of the AVIVA funds which I certainly is not interested in.
4. Is there a legal way of getting some reprive from these companies who take the money (70% to be exact) from the customer and use it for themselves?
5. When contacted AVIVA, I've been told to continue investing 30000 for next 30 years. In case of any eventuality, I will get only the sum assured. I.e., if I continue investing30000 for next 20 years (which is 6 lakhs) and my sum assured is 8 lakhs, I will get only 8 lacs in case of any eventuality at the end of 20 years... So net it is only 6 lakhs for me. In case if the 6 lacs which has been invested in market becomes 10 lacs, I will still get only the sum assured and AVIVA will take the whole 10 lacs...
Can someone validate the above point? This is what have been told by the AVIVA supervisor.
We have been cheated by these MNC's big time. I am not sure how and why brand ambassadors like Sachin can endorse these companies. Is my 70% a part of his salary?!!! :(
1. What happened to the remaining money and the money that has been invested in the secondary market?
2. Why we have been told that the lock in is only for 3 years after which we can get the amount invested along with the gain from the market?
3. Why AVIVA is not sending a personalized statement (A statement which should inform the amount invested and the growth of MY amount in the share market). I would have invested in different period of time and I want to know what is the growth of MY FUND (with respect to MY investment). What I usually get as a letter is the overall growth of the AVIVA funds which I certainly is not interested in.
4. Is there a legal way of getting some reprive from these companies who take the money (70% to be exact) from the customer and use it for themselves?
5. When contacted AVIVA, I've been told to continue investing 30000 for next 30 years. In case of any eventuality, I will get only the sum assured. I.e., if I continue investing30000 for next 20 years (which is 6 lakhs) and my sum assured is 8 lakhs, I will get only 8 lacs in case of any eventuality at the end of 20 years... So net it is only 6 lakhs for me. In case if the 6 lacs which has been invested in market becomes 10 lacs, I will still get only the sum assured and AVIVA will take the whole 10 lacs...
Can someone validate the above point? This is what have been told by the AVIVA supervisor.
We have been cheated by these MNC's big time. I am not sure how and why brand ambassadors like Sachin can endorse these companies. Is my 70% a part of his salary?!!! :(
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Aviva Life Insurance — miselling
Aviva Life Insurance Complaints - IMPROPER INFORMATIONView all Aviva Life Insurance complaints
Aviva Life Insurance
Posted:[protected] by SAURAV JAIN Send email
IMPROPER INFORMATION
I took the policy LLG.1187424 from AVIVA LIFE INSURANCE through their agent Rohit jain LUDHIANA. At the time he told me the policy has three years lockin period and i have to deposit RS-10000/ p/a for minimum period of three years, and after three years if i wish i can get the full payment of my UNITS @ of current N.A.V of the units,
But now after giving the installments of RS- 10000/ p/a for three years the company is now settling my a/c by giving the payment of RS 6600/-after deducting 70% of my units. which is very unfair since i have invested my hard earned money to get some good profits and growth.
TOTAL AMOUNT INVESTED IN THREE YEARS--30, 000/-
TOTAL AMOUNT OF 100% UNITS --23, 000/-(APPROX. AS PER CURRENT N.A.V)
PAYMENT BEING MADE BY THE COMPANY -- 6, 600/-
SHORT PAYMENT --16, 400/-(APPROX)
THIS SITUATION HAS BEEN CREATED ONLY DUE TO THE IMPROPER INFORMATION GIVEN BY THE AGENT ROHIT JAIN AND I HEREBY REQUEST YOU TO FORWARD MY COMPLAINT TO THE TOP MANAGEMENT OF THE COMPANY AND FURTHER I REQUEST YOU TO PURSUE MY COMPLAINT. SINCE THIS LOSE IS VERY BIG FOR ME.