Reliance Life Insurance Money Multiplier Plan — False facts about Product

Address:

Banswara, Rajasthan

To,
The Branch Manager
Reliance Life Insurance
Siddhi Vinayak Complex,
Old Bus Stand,
Banswara-327001

Sub: Request to Cancel Policy
Ref: Money Multiplier Plan Policy No. 18364433 Application No. C2978405

Dear Sir,

I was convinced by Mr. Nikhil Choudhary representing himself as Senior Advisor RLIC, Jaipur ( Contact No. [protected]) about RLIC- money Multiplier Plan that by investing Rs. 50,000/- I would get sum assured of 10 times of the premium paid i.e Rs. 5.00 Lacs and for 2011 Company has declared an attractive scheme of return back of first premium directly to the policy holder with the Bond Papers and which then was followed up a person name Mr. Sanjay Khurana (Ph# [protected] ,[protected]. He is supposed to be Regional Head of Reliance Life Insurance Co Ltd – Regional Office situated at C Scheme, Jaipur. He called up and explained again all things also 16% p.a. returns of the policy. After that Mr. Vishal ( as explained from RLIC Udaipur Office) visited my work place and again explained how it's 16% p.a. twisting the facts given in their benefit illustration.

After multiple explanations and assurance given, I was convinced and invested in policy. However, as soon as I received the policy number through SMS and went through the terms on website , I realized that there is some problem and tried to contact Mr. Nikhil surprisingly found that his mobile no on which he was rigorously following up , has been switched off. Then through reliance Web site with the help of Advisor code I found that policy was pitched up by a Corporate Agent M/s Step Towards Investment , Corporate Agent – 9, Vrisriya , Triveni Nagar, Near Rasraj Resturant , Jaipur ( Rajasthan) Advisor Code 21138608. I then spoke to Customer Support ,Reliance Life Regional Office , 4th Floor, K-13, Brij Anukampa, Ashok Marg, “C” Scheme, Jaipur and asked them to specify actual returns, I will get at maturity (10 years). This customer support person carefully listen and denied all bogus commitment made by Mr. Nikhil kept and suggested to lodge complaint against him and ask Branch Manager, Banswara for cancellation if you disagree with any of the terms and conditions of the policy.

I therefore request you to please make necessary arrangement for cancelling my Policy for sake of justice and oblige. I am annexing herewith my Policy related documents along with Photo ID proof for your kind perusal and records. Looking forward a positive and prompt action in this regard.
Sincerely your’s
Sanjay Sharma
278-K, Ward No.6, Vadia Colony, Banswara-327001
Phone [protected],[protected]