[Resolved]  Reliance Insurance Company — Misguided and cheated by the Advisor

Address:

North West Delhi, Delhi

MISGUIDED AND CHEATED BY THE ADVISOR OF THE RELIANCE INSURANCE COMPANHY OF THE ANIL AMBANI GROUP

POLICY NO; 18204580
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I would like to inform you that for the Life Insurance Cover I was approached on phone by the lady Advisor /representative from then Reliance Life Insurance Company, Barakhamba Road, Connaught Place, New Delhi and I was repeatedly told that this Policy would cover my all outdoor medical expenses as well the policy would cover hospitalization in any of the empaneled hospitals for indoor treatment, if required. For completing all the formalities one of their representative was sent who brought a blank application form for taking the signatures and to collect the payment cheque and the relevant documents . When Mr. he came I asked him to fill up the form in front of me but he only filled only the name and address and told me that the other details will be filled by the office. I had asked the lady Advisor that I am taking the policy for my wife so that she can get the medical facilities.

After submitting the application I received an SMS from the Company on 25.11.2010 stating that Policy No: 18204580 has been issued on 23.11.2010 which is a regular premium Plan and yearly premium is payable for 22 years. Immediately on receipt of this SMS I contacted the Advisor that I have asked for the policy which should cover indoor as well outdoor medical but as per SMS received by me it is a regular premium plan. She told me not to worry and wait for the policy document. She also told me that the the medical card and the list of hospitals etc. takes time and it will reach to me within 15-20 days.

On 26th November, 2010 I received the Policy document and I was surprised to see that whatever columns of the application filled in my presence are only clear and all the other columns filled in the office are not legible. It is difficult to read Page 2, 3 & 4of the application. Moreover the Cash flow plan at Page Nos. 1& 2 are not readable at all. It seems that the pages which have vital information have been knowingly made like this so that one should not be able to read them clearly.

On going through the basic benefits of the policy it it understood that it is like a money back policy and did not at all cover the indoor as well as the outdoor medical facilities as explained by the lady Advisor of the Reliance Life Insurance Company on the phone. I have applied for the policy only for the reason that it covers both indoor and outdoor medical facilities.

I have sent eiails to the Company on 29.11.2010 requesting them that I may be immediately informed whether or not this policy covers the indoor and outdoor medical facilities of the Policy Holder as explained by their lady Advisor because If this policy does not cover indoor and outdoor medical facilitates of the Policy Holder in that case I will treat it as cheating and misguiding and wish to opt out of this plan and demand full amount of premium paid by me as first premium without any deduction. I also requested to please send me a reply by mail by return of mail so that I can return the policy document within the required period available to me.

I have not received even an automated acknowledgement. I have today contacted their Connaught Place Branch and was told that this policy did not at all cover medical benefits and is only a monrey back policy. When I again contacted the Advisor she told me that the Branch may not be aware that due to anniversay year the Company has selected 200 people to provide medical facilities also and I will get the medical card and the list of empanelled hospitals within 2-3 days.I do not know on whom I should believe.Will the company please cancel the said policy without any further delay and refund me the full amount of premium paid by me without deducting a penny as I have been misguided by their Advisor.

Bina Mathur