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[Resolved]  Birla Sun Life Insurance — non refund on surrender of policy

I am holding Birla Sun Life Policy no.[protected] since March 2007. I had to pay 3 instalments of Rs.25,000/- yearly which i have completed and have receipts to that effect. On 23rd October 2009 i submitted the policy surender form along with all the original documents ( HAVE RETAINED RECEIPT OF THE SAME ) and was told that i would receive an amount which would be less than the market value as on that date as i was surrenderi ng the policy before the end of 3 years (market value was around Rs.82,000/- approx and i was to receive Rs.77,000/- approx ) and that the cheque would be sent within 10 working days. After about 15 days all the documents were couriered back to me along with a fresh surrender form and a letter asking me to surrender the original documents. Again on 27th Nov i receieve a letter stating that all the necessary changes to my address have been made. I was aghast as to what was ahppening and i called their toll free customer care on [protected] at 3.26 pm on 27th Nov and spoke to one Ms. NIkita. I told her my grievance and she told me that even if i surender the policy before 3 years the amount would be refunded back to me only after 3 years. I am surprised that a company like Birla Sun life is out to dupe people in this manner. I would like your help in this matter as i am doubtful about the company's integrity and i dont think that the company is ever going to refund my money.
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Aug 14, 2020
Complaint marked as Resolved 
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I am holding Birla Sun Life Policy no.[protected] since Feb 2007. I had to pay 3 instalments of Rs.25, 000/- yearly which i have completed and have receipts to that effect.


On 27th March 2010 i submitted the policy surender form along with all the original documents ( HAVE RETAINED RECEIPT OF THE SAME ), So far am not getting my ammount and not receive any intimation for Birla Office.


I was hospitalized on 1/04/2010 for two weeks. am not followed the status of mine.

11/04/2010 - i checked my bank account, am not received my policy amount.

12/04/2010 (Morning) - i checked with customer care[protected] they said due to signature mismatch my request was rejected and also they said the intimation letter was sent to my communication address (but am not receive any letter from birla).

12/04/2010 (Post lunch) - again i check with customer care for my original document for re-apply, they said it was return(despatched) to Branch Office (Adyar Branch, Chennai) on 8th Apr 2010.

13/04/2010 (Morning) - I spoked with the branch office (Adyar, Chennai), they said didnt received any Doucment from Birla Head Office. and also they asked to get POD Number from Customer Care for further action.

13/04/2010 (Morning) - I again spoked with the customer care for POD number. that gentlemen said, the delivery details are not updated in status log, so please wait for 3 days i check with Back office and come back...

I am surprised that a company like Birla Sun life they dont have SYSTEMS and PROCEDURE, and it clearly shows that their INEFFICENCY, they only interested in GRABBING money from the people not serving the People
i have a sme dito complint for birla sun life for difrant 3 policy no,[protected],[protected],[protected]
on november 2010
till date 28 march 2012 their is no reply from compny
my mob no is [protected]
mufo.[protected]@yahoo.com
My application no. EA90080852 is cancelled due to non fulfilment of requirments but the amount paid is not refunded till date
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