[Resolved]  Reliance Life Insurance — Fraud company with similar co partners

I was going through your websie and found cases where signatures were fudged and policy was changed by filling a new form by the fraud representative.

I wanted a single premium policy but was sent a 15 year reccuring policy with 30% as processing fee. When i turned back the policy during cool off period the whole process was so embarassing as if I was the culprit. Firstly i had to visit there customer care center where inspite of an application i made to fill a form.The best part is inspite of applying on 21st March 2009 it turned up in reliance systems on 26th March 2009. I was given a TAT of 7 days.

On 26th March when i called up customer care they told me i will get my money on 11th April 2009.

Today 22nd April when i call up customer care they said the application got cancelled on 15th April and will need till 2nd May till i see my money.

My point here is
1 Is there any guideline for such processes defined by IRDA
2 Why should not we get interest for the time money is held up with these company.
3 I should consider myself lucky that it happened at the initial stage imagine after paying for 15 years what would be my plight.
4 Why action is not taken against there culprit investment advisor.
5 The fake signatures as per my knowledge is an offence under section 420
6 Why should we pay administrative costs when it is not our fault.

I am not putting my policy number here as this may worsen my case but have all the rquired documents to colabrate my story. I will update it here once i see my money.

Also senior managment in reliance should realise that there treament not only wards me off but all the referal customers also

Regards
Amit Kumar Verma