[Resolved]  Aviva Life Insurance — AVIVA LIFE LONG POLICY POLICY HIGH SURRENDER PENALTY

Address:

Indore, Madhya Pradesh

Dear Sir,

I had purchased life long insurance policy ULIP from aviva life insurance ltd on sep 2005 with sum assured of rs. with additional facilities like critical illness and accident riders.

I aggreed to pay rs 3000/- quaterly. since than till date i had paid a premium of rs.64950/-


I was told that lock in period is of 3 years and i can take my money back which is suppose to be equal to fund value.

last premium paid was upto sep 2010.

since six month premium is due and the policy is in paid up stat.

when i enquired the fund value in sep 2010 i was told that total fund value is rs 60000/- approx,

but in statement letter received today fund value as on 29 mar 2011 shown is rs.36995/-

in statment letter fund value as on sep 2010 was shown 58680/-

sales manager of indore branch told me that refund value will be rs.36000/- approx.

have they manipulate units allocated in my account .

should they charge such a heavy surrender panelty of 27995/-

pl guide me what should i do now?

requesting you to pl see encl files.