[Resolved]  Reliance Life Insurance Golden Year Plan — mis selling by the sales officer of reliance LI

Dear Sir, I have similar case and extreamly bad experience with the co. response to customer queries . I feel the co. is dumb and deaf in practice.And follows a corporal policy to hook the customers by hook or crook methods get first check and commitmets for long term.In return co. gets bussiness and agent gets heafty comissions.My application to the cos verious chanels is not even responded or attended to.Copy of the same is pasted herewith for every bodies information.I do not know if the co. will anyway read or not but some cutmoers like me will be benefitted.

To,
Date : 9th September, 2009
OFFICER INCHARGE
RELIANCE LIFE INSURANCE CO. LTD
H-BLOCK, 1ST FLOOR
DHIRUBHAI AMBANI KNOWLEDGE CITY
NAVI MUMBAI 400710
INDIA.

Subject- Misguided and misinformed policies update or refund.

Ref : Policy Application nos ..A4505792/ A4505793/A4505775/W1322896 dated 31st March, 2009.( Rel Money, Guaranteed rtn, Wealth+Health, Super Golden Policies )-TOTAL – Rs. 254000 investment


On 31st March 2009, the day of year ending I received calls from your Delhi office one Mr. Akash ( tel. [protected] I think ) and some ladies proposed me investment plan from Reliance and no mention was made for life insurance. They have agreed to my request of medical insurance family cover.This was the only point which I was looking forward and agreed to investment proposal.

Subsequently next day Mr. Karna Palav ( tel. [protected] ) visited my residence along with one more person to collect cheques.They had no much information about proposal or any documents, their IDs etc. Hence we spoke with your Delhi office contacts through Mr. Karan and reconfirmed the proposal with 20% extra units and Mediclaim .Also Mr. Karna promised Rs. 10000 cash return from his account and he agreed to provide this as top up to the policy.

The policies were applied in the name of my family members Dileep Ayachit, Hema Ayachit and Utkarsha Ayachit.Utkarsha is out of India and I have signed as proposer.

Next day I have left India for work and returned in July for two weeks. I am the only person aware about the policies and I kept in contacts with Mr. Karna, Rajesh Pal of Pune and Akash of Delhi via mails, phone calls from Qatar and India.

While I was in India during July I have met Karna he and Mr. Akash agreed that the outstanding issue of additional 20 % unit allocations and Rs. 10, 000 top up by Karna will be done in one week time and requested me not to process cancellations.

However nothing has been done to this effect and as before Mr. Karna is not responding on phones.

To conclude the discussions, I believe that your Pune and Delhi team have jointly mis guided and cheated me.The Wealth + Health policy was 180 degree apart vthan what discussed and was closed .Similarly close the balance issue.

I am not happy with your co. and the life policies I do not need as I will soon retire from work .

I am requested your good office to resolve the issue since long. You may please see the list of attached emails. However you need hard copy as per your customer service agent.Hence this letter is being sent .

You are kindly requested to either honour the words and promises made by your agents and if you disown them then approve refunds without any cancellation charges.

Also please note at present all my family members are out of country and we can agree the method to close and refund. Please advise me about the fund values and refunds.

I want earliest exit from your schemes and action against those mis- representatives.

Also note that I am happy customer of Reliance MF and has no problem with working with them also I am reliance share holder..

Kind regards.


Dileep Ayachit

Raslaffan, Qatar
Mobile +[protected].

Sr. QA / QC Specialist
CCIC –CCW2 Project
Ras Laffan
Post Box 22056
Doha, Qatar

This is a general practice in reliance, Business first and customer is secondary. The only lesson teaches by their top officials that bring business business business and only business by hook or croock. forget after sales service. I am having GSLI paln with reliance but unable to surrender the policy since december 09. Still my surrender is showing in process. policy no 15297125

i have made a policy for rs.50000/-in dec 2007 informed by the agent ms.sarala that the payment is one time.but the company is insisting for regular payment yealy stating that the policy is on regular basis.there are frequent changes in staff and not conversant with the reules. i donot know how this company is running business with half knowledged fellows at the cost of public.

refund from lapsed policy

Can I get refund from the lapsed policy?