[Resolved] Tata AIG Life Mahalife Gold — Wrong Selling of Tata AIG Life Mahalife Gold by Tata AIG/VIGHNAHARTA DIRECT INSURANCE BROKING PVT. LTD

ashoknswami

from Mumbai, Maharashtra

Address:

Thane, Maharashtra

To Mr.M.Suresh,
Managing Director,
Tata AIG Life Insurance company limited,
Delphi- B wing,2nd floor,Orchard Avenue,Hiranandani business park,
Powai,Mumbai 400076.

Dear sir,

Please note that in the month of December 2010, I was approached by one Ms. Niharika,(Cell no:[protected],landline no:[protected] introduced herself as Regional manager Tata AIG Delhi office & told me that if I invested Rs. 130,000/- (Rupees One Lakh Thirty Thousand only) in Tata AIG life Maha life Gold policy termed as a fixed deposit as a part of anniversary offer in that particular month,i will be paid a sum of Rs. 26,000/- (Rupees Twenty six Thousand only) as cash back @ 20% of the sum invested in the period April 2011 to October 2011 + bonus for the sum invested.She also convinced me that there will be no agent involved in selling this policy.Also i was told by her that this being a FD,I will earn a minimum guaranteed fixed [protected]@ 12% of the sum invested every year + performance bonus totalling 14,70,000/- payable at the end of 5 years as sum assured ,if I continue investing the same amount every year for a period of 5 years.Based on her assurance I had issued 2 cheques totalling Rs. 1,30,000/- .To my surprise & shock when I received the policy (policy no.C[protected] dtd.12/01/2011) after rigorous followup,where agents name i.e. Vignahartha Direct insurance broking pvt.ltd,Agent code[protected] was mentioned in the policy document & it was also mentioned in the policy that the term of the policy is 55 years and when checked with Tata AIG customer care,iam told that i would start receiving only 5% of the sum assured i.e.Rs.73,500 only in the 11th year starting Jan 2022.
Now Iam stuck with this policy as I would not be getting the sum assured payment after 5 years which I had planned to utilise for my son's college education during that time.Hence I request you to kindly take up strongly with your Delhi office and agent and refund me the invested amount of Rs.1,30,000 at the earliest as Iam no longer interested in this policy/plan.

Regards,
Ashok Narayanswami [protected]

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Aug 13, 2020

Complaint marked as Resolved

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Comments

mahkman

from Chennai, Tamil Nadu

DEAR SIR,
I WAS ALSO SOLD THE SAME POLICY TATA AIG MAHA LIFE GOLD BY THE SAME GIRL NAMED NIHARICA BEARING THE SAME MOBILE NO. [protected] FROM DELHI SAYING SHE WAS FROM TATA BUT LATER I WAS SURPRISED TO SEE THE NAME OF BROKING AGENT VIGNAHARTA DIRECT INSURANCE BROKING PVT. LTD.IN DECEMBER 2010, WHEREIN I WAS ASSURED OF 25% CASH BACK OF MY POLICY AMOUNT & OTHER LUCRATIVE OFFERS LIKE MEDICLAIM OF RS.40, 000/- ETC..

I HAD TAKEN 2 POLICIES OF RS. 10, 000/- EACH & EVEN LODGED A FORMAL COMPLAINT WITH A GRIEVACE CELL (C.NO. :CAS/TALIC056202/MONICA DT.15/02/12)

IN MY INCIDENCE I HAVE EVEN SUBMITTED THE DOCUMENTS WHICH WERE CARRYING MY FAKE SIGNATURE ALONGWITH MY SPECIMEN SIGNATURES TO MS. MONICA OF TATA AIG AS REQUESTED BY HER TO PROVE THAT HOW I WAS CHEATED.
I HAVE RECEIVED A LETTER FROM M/S TATA AIG STATING ABOUT THE DISCONTINUANCE OF THE ABOVE SAID BROKING AGENT DUE TO SOME PROBLEM.
EVEN AFTER CONTINUAL FOLLOWUP WITH MS.MONICA I HAVEN'T RECEIVED ANY INFORMATION AS TO WHAT FURTHER ACTION IS BEEN TAKEN REGARDING GETTING BACK ME MY HARD EARNED MONEY.
SURPRISINGLY 2 DAYS BACK I RECEIVED A 2 CHEQUES OF A PALTRY AMOUNT OF RS.55/- EACH AGAINST MY 10, 000/- RS EACH STATING THAT MY POLICY HAS LAPSED.
CAN ANY ONE PLEASE HELP ME GETTING BACK MY MONEY, THESE KIND OF THINGS FROM A WORLD REKNOWNED GROUP TATA WHICH I HAVE GREAT RESPECT IS REALLY DISHEARTENING.
HEARTY REGRETS
MAHESH MANE
EMAIL I.D :[protected]@rediffmail.com
MOBILE : [protected]