[Resolved]  Edelweiss Financial Services — Unable to trace or encash my ULIP policy after its maturity

Hi,

Please note my ULIP policy details which after I am unable to trace or encash it after its maturity. Edelweiss customer care is unable to help me to trace my policy.

Policy Number[protected]E

Plan Name - Edelweiss Tokio Life Wealth Accumulation (Accelerated cover)

Risk Commencement Date - 14-Jan-2016

Maturity Date - 14 Jan 2021

Fund Name - Equity Top 250 Fund (ULIF0027/07/11EQTOP250147)

Fund Name (SFIN) - Discontinuance Fund (ULIF00701/01/12DISCONT147).

Details on my policy - I have discontinued the policy after one year due to high service charges by edelweiss and asked them to refund my amount pid so far in 2017 but i was told that due to it’s lock-in of 5 years, i will get the amount with interest on its maturity date by 2021. On Nov, 2020 i got the call from Edelweiss asking if i want to renew/continue my policy, I asked them i want to encash it on its maturity 14 Jan 2021. They suggested me to contact after this date.

However, now when I contacted the edelweiss customer care, they are not helping me to encash my policy, saying they are unable to fetch my policy details. It’s a fraud by edelweiss! If they can call me 2 months before to ask for renewal but if i opt for not to renew the policy, than they are doing fraud by not allowing me to encash my ULIP policy.

Requesting the concerned team to please help me to encash my money stuck with this waste policy for more then 5 years now. I have my full right to encash the policy after its maturity.

Thanks and Regards,
ARPPIT GUPPTA
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Nov 22, 2021
Complaint marked as Resolved 
Resolved
Edelweiss Financial Services customer support has been notified about the posted complaint.
Feb 26, 2021
Updated by Arppit Guppta
Any updates?
Mar 05, 2021
Updated by Arppit Guppta
It is the case of Fraud from Edelweiss, they are not responding also. Kindly take actions.
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