[Resolved]  Aviva Life Insurance Company India Ltd — Revision of policy admin charges

Address:

Pune, Maharashtra

Dear Sir,

I am customer of Aviva and have 2 policies on my name. The background to issue is
• On 11-May- 2010, I received a letter dated 21-Apr-2010 from Aviva regarding revision in policy admin charges. The effect date for the same is mentioned as 1-Jan-2010.
• Since the revision was backdated and without customer notification, on the same day itself, I asked Aviva about the reasons for not notifying in time and the term & condition in policy which allows Aviva to revise the charges effective from back dated.
• On May 12, I received email from Aviva regretting the delay in communication and I was asked to refer Article Number # 17.7 from policy Terms and Condition.
• The Article Number # 17.7 states “Each month an appropriate number of Accumulation Units, including parts o[censored]nits allocated to the Unit Account in respect of Regular Premiums will be cancelled at their respective Selling Price as monthly charges to meet the Company’s administration expenses. The initial amount of the monthly charge is mentioned in the Schedule and will be reviewed and adjusted annually by the Company having regard to its expenses, inflation and any changes experienced by the Company in the cost of the administration of policies. Any annual increase will be limited to 15% of the previous level of the charge”
• Aviva in that mail has agreed that there is no clause that states that the revived Admin charges can be effective from back dates.
• Since there was no such clause, I have asked Aviva to revise the charges effecting from 21-Apr-2010 (the date on which the communication has been sent) instead of Jan 2010. However Aviva has simply denied accepting this. I had several communications in this regard (on the following dates: May 13, May 20, May 21, May 23, May 31, June 3) but there is no clear response from Aviva on this.
Since there is no constructive response from Aviva, I am arrived at the position of raising the complaint against them to you. Request you to kindly look into this and suggest the nest steps.