Reliance life — Beware of Reliance Life Money Multiplier Plan!!! - Group of agencies and employees cheating public of their money

Address:

Faridabad, Haryana

Beware of Life insurance plans offered by Reliance, which promise too good to be true rate of returns....

I was convinced by their telemarketer of 16% p.a. returns and which then was followed up a person name Mr. Nitin (Ph# [protected], email id : [protected]@uniconindia.in). He is supposed to be Business Head o[censored]nicon India (www.uniconindia.in). He called up and explained again regarding 16% p.a. returns of the policy. He then visited my home and again explained how it's 16% p.a. twisting the facts given in their benfit illustration.

After multiple explanations and benefit illustration from reliance life website, I was convinced and invested in policy. However, as soon as I received the policy and went thur their terms, I realized that there is some problem and asked Nitin to send 16% p.a. returns letter on reliance life letter head. Nitin kept sidelining the question and never sent me the letter. I then spoke to reliance life sustomer care and asked them to specify actual returns, I will get at maturity (10 years). This customer support person also kept me on hold for long and did not answer me straignt-forward. When I told them that I recording the converstaion, he immediately came back that returns will be somewhere about 3 to 4%.

Next day, I went to Reliance Life office and cancelled my policy. Policy Number# 18216937. I specified cancellation reason and also spoke to their manager on what actions they can take. To my surprise, he told that they cannot take any action and asked another representative to help me out. After helping out in documentation, this fellow started selling me another policy... I wrote an email to Reliance life support, got back 3 SMSes that my policy has been sent to my address :) Screwed up system....

I don't know if any reliance life management will ever come across this message and try to clean it up.. But then it is probably them, who has created this mess and who gets most benefited.