[Resolved]  Aviva Life Insurance Co. India Ltd — Cheating by Aviva Life -charging very high allocation & administration charges

Address:

Mumbai Suburban, Maharashtra

Sub : Policy no ALN2061612 Aviva - feeling cheated by the company

I had taken the above policy in the month of August 2008 It is a 10 year policy with sum assured of Rs1020000

Premium per month Rs17000
Administration charges 1.5% on monthly premium
Mortality rate Rs.250 approx. per month reducing

I had invested in index plan which is supposed to be the best plan
My april 10 premium has not been cleared, as even on various requests I have not been able to get further details & breakup from the company of premium allocation being done

I was shocked to understand that AVIVA is adjusting 1.5% p.m (18 to 20% annually )of the entire annual cover amount of Rs204000 , every month which works out to Rs3375 or 3450 per month.( annually 42000 i.e 20% ++)

Out of Rs17000 paid per month the company is adjusting Rs 3450 every month towards administration charges , this was never declared to me. in view of the above I request you to kindly refund the excess amount taken by you & forward my issue to Grievance office for redressal.

I am feeling cheated from a 300 year old company in whom I had shown confidence.

Even after repeated tries / requests nobody has been able to explain me the justification for deducting such a huge admin charges, instead I was offered varous other policy which some different way of recovering charges from an aggrieved investor.I will request senior management to intervene & help a trust worthy investor.

I had much hope from the company , but noe I feel cheated & lost all my hard earned money due to all cheating techniques adopted by an insurance company of international repute
Regards,
Jagdish Hamirwasia
[protected] TEL
[protected] RIM