Exide Life Insurance — non-payment of maturity payout

Address:

Bangalore, Karnataka, 560001

I am dr. Subhashchandra daga, working as a child specialist with pacific medical college & hospital, udaipur (Raj).

• exide life insurance, formerly ing vysya, was supposed to pay me the maturity payout. The correspondence dates back to 2015 (E-mail no.1).
• it was claimed that the payout cheque has returned undelivered, and the bank details were sought for bank transfer. The details were promptly sent (Email 3a).
• it was informed to me that “once the maturity payout cheque is rto (Returned to origin), we shall process that maturity payout through neft, as requested by you” (Email 2). Nothing happened when i approached the exide insurance company, except for routine promises of “we are looking in the matter” and i gave up all the hopes.
• suddenly, i was asked to submit existence certificate. I submitted the same to udaipur office, a receipt is attached (4 a).
• the reminders had no effect. Thereafter, i approached bimalokpal for rajasthan area four times (Email 4-7) and once on phone. I failed to get even an acknowledgment.
• the matter is going on for more than three years. The same documents are demanded again and again. The local office chooses to look the other way since the mischief is at a higher level.

My plea is for the payment with interest and a penalty of rs. 100, 000 (One lakh only).

1.
On wed, 18/11/15, exide life insurance wrote:

Subject: policy number : 00491422
To: "[protected]@yahoo.com"
Date: wednesday, 18 november, 2015, 2:45 pm
[protected]Toll free) exide life insurance policy

Dear mr. Daga,
Greetings from exide life insurance! We apologize for the inconvenience caused.
This has reference to your email dated
18th november 2015 regarding your request for maturity
Payout towards your exide life best years retirement
Plan with policy number 00491422.
As per our records the maturity payout
Cheque has been dispatched to your communication address
Available with us and same has been returned to us.
Kindly confirm the below mentioned address to re-dispatch the same.

Your address: mr. Subhashchandra ramvilas daga,
No-201 shrishti complex
Mahaveer colony bedla road
Fatehpura near siphon
Junction
Udaipur : 313001
Rajasthan.
Please get in touch with us for any further
Assistance. We hope to hear from you soon.

Yours sincerely,
Customer services
Exide life insurance company limited (Formerly ing vysya life
Insurance company limited)

1 a.
Dear sir/ madam, i received your text message that payout cheque
Has returned undelivered. I wish a note was left so that we
Could have collected from the courier office.
Regards,
Subhash daga
Have a good day!!
2.
Dear mr. Daga,

Greetings from exide life insurance!
We apologize for the inconvenience caused and for the delay in our response.
This has reference to your email dated 28th november 2015 regarding your request for maturity payout for your exide life best years retirement plan with policy number 00491422.
We would like to inform you that your as per our records maturity payout cheque has been dispatched and same is not returned to us.
Once the maturity payout cheque is rto (Returned to origin), we shall process that maturity payout through neft as per your request.
Please get in touch with us for any further assistance.
We hope to hear from you soon.
Yours sincerely,

Customer services
Exide life insurance company limited
(Formerly ing vysya life insurance company limited)

This is a computer generated communication and does not require a signature. This email is confidential and may be privileged. If you are not the intended recipient, please notify us immediately.

Mail us : registered office: exide life insurance company limited, 3rd floor, jp techno park, no.3/1, millers road, bengaluru - 560 001.

Exide life insurance
Dear mr. Daga,

Greetings from exide life insurance! This has reference to your email dated 25th november 2015 regarding your request for maturity payout towards your exide life best years retirement plan with policy number 00491422. We would like to inform you that we were unable to process your request due to below mentioned pending requirements: original cancelled personalized cheque (I. E. Cheque bearing pre-printed account number and name of a/c holder on it) or copy of self attested bank statement and pass book copy, if personalized cheque is not attached. Note : in case ifsc code is not received, the pay-out will be made by a/c payee special crossing cheque. Direct credit is not possible for nre account. We request you to email us the scan copies of above mentioned documents in the name of policy owner (Mr. Subhashchandra ramvilas daga) in pdf format for processing your request. Please get in touch with us for any further assistance. We hope to serve you again. Yours sincerely,

Customer services
Exide life insurance company limited
(Formerly ing vysya life insurance company limited)
Park, no.3/1, millers road, bengaluru - 560 001 |

3. A.
Dear sir/madam,
As per discussion with your customer service executive, i am sending my bank details. Subhashchandra daga, syndicate bank, badgaon branch (Udaipur), ac no. [protected], isc code synb0008453.
Sincerely, subhash daga
Have a good day!!

Dear sir/madam,
As suggested by you, i am enclosing pdf files of a) scanned copy of pass book and b) scanned copy of self-attested copy of bank statement. I hope this will enable you to transfer the amount to my bank account.
Sincerely,
Subhash daga
Have a good day!!
4.
Exide life insurance
To:[protected]@yahoo. Com12 dec 2018 at 12:15 pm

[protected]Toll free)

Exide life insurance policy

Classification : private
Dear mr. Daga,

Greetings from exide life insurance!
This has reference to your email dated 10th december 2018 regarding your request for annuity payout towards your exide life policy 02475712.
We would like to inform you that we have received your request for annuity payout which you have submitted at udaipur branch. However, you have submitted 'policy benefit payout form' instead of 'certificate of existence form'. Hence, we request you to email us the scan copy of below mentioned document in pdf format for processing your request :
• completely filled-in `certificate of existence form` (Attached herewith)

Please get in touch with us for any further assistance.

We hope to hear from you soon.


Yours sincerely,

Customer services
Exide life insurance company limited

This is a computer generated communication and does not require a signature. This email is confidential and may be privileged. If you are not the intended recipient, please notify us immediately.

Mail us : registered office: exide life insurance company limited, 3rd floor, jp techno park, no.3/1, millers road, bengaluru - 560 001

4 a
The receipt of existence certificate from udaipur office of exide insurance, dated 30.11.2019.

Dr. Subhash daga
To:exide life insurance, bimalokpal. [protected]@ecoi.co.in. 13 dec 2018 at 9:22 am
Kindly read carefully the scanned copy of the receipt of the certificate of existence. It states "this is to acknowledge receipt of application for certificate of existence". Any new excuse to delay the annuity payment?
Subhashchandra daga
Copy to:
Jaipur - smt. Sandhya baliga
Office of the insurance ombudsman,
Jeevan nidhi – ii bldg., gr. Floor,
Bhawani singh marg,
Jaipur - 302 005.
Tel.:[protected]
Email: bimalokpal. [protected]@ecoi.co.in
With a request for a payment with interest and a penalty of rs. 100, 000 (One lakh only).
The matter is going on for more than three years. The same documents are demanded again and again. The local office chooses to look the other way since the mischief is at a higher level. Detailed representation follows.
5.

Dr. Subhash daga
To:bimalokpal. [protected]@gbic.co.in
21 dec 2018 at 11:54 am
Dear sir/madam,
I had sent a mail yesterday narrating my grievance. I shall be grateful if i get an acknowledgment of the same.
Yours sincerely,
Subhashchandra daga

6.
Dr. Subhash daga
To:bimalokpal. [protected]@gbic.co.in
7 jan at 10:06 am

Dear sir/madam,
Exide life insurance is avoiding to pay my dues for one excuse or the other for last three years. I have earlier approached you with the details of correspondence.
Kindly intervene so that my dues are paid immediately.
With regards,
Subhashchandra daga

7.
• dr. Subhash daga
To:bimalokpal. [protected]@ecoi.co.in 16 jan at 11:54 am
Reminder no. 3
Dear sir/madam,
My annuity payment is not released by exide life insurance under one pretext or the other. The correspondence began in 2015 as shown below.
Your urgent intervention is requested.
Yours sincerely,
Subhashchandra daga

Dear mr. Daga,

Greetings from exide life insurance!
We apologize for the inconvenience caused and for the delay in our response.
This has reference to your email dated 28th november 2015 regarding your request for maturity payout for your exide life best years retirement plan with policy number 00491422.
We would like to inform you that your as per our records maturity payout cheque has been dispatched and same is not returned to us.
Once the maturity payout cheque is rto (Returned to origin), we shall process that maturity payout through neft as per your request.
Please get in touch with us for any further assistance.
We hope to hear from you soon.
Yours sincerely,

Customer services
Exide life insurance company limited
(Formerly ing vysya life insurance company limited)

This is a computer generated communication and does not require a signature. This email is confidential and may be privileged. If you are not the intended recipient, please notify us immediately.

Mail us : registered office: exide life insurance company limited, 3rd floor, jp techno park, no.3/1, millers road, bengaluru - 560 001.