[Resolved]  Future Generali — Policy cheating

My self Joju Kuriakose ( Managing Director, ICAFS Technologies P Ltd) herey by register a complaint against a policy taken with Future Genarali India

The policy[protected]LIFE INSURANCE)was taking in 2011, while my cousin Mr George S George was working as agent of FUTURE GENERALI company. I took this policy to support his job as he is 75% handicapped( blind & def, medically proved and certified by govt bodies).

When i took this policy, i informed him that i need only 3 years plan . and the policy was supposed to be a 3 year policy, but when i received the doc ( to my parent home and that too receive very late). I noticed that the policy was taken for 5 year plan .

During the policy introduction and signing the documents, some one else representing George made these changes( some seniors to him). this was done cheating George & me taking advantage of his disability in reading and writing

When i inquired with my cousin he said the above is what happened. When i talked with some seniors, they asked me to continue the policy and assured that i will be able to withdraw the fund by the end of 3rd year as this policy guarantee the fund i paid. Since i lost trust in discontinued making the rest of policy payments( i paid around 44 thousand in 4 schedule(2 years).

So i continued the policy, but later at the end of second year while my cousin was moving out of your company, i enquiried about surrendering the policy, He put me to his seniors and i was informed by them that i will get only 1/3 of what I paid so asked to complete 3 years locking period to get the the guaranteed amount paid back.And informed that the company will take care of it.Now the 3rd year is completed and when I enquiried the status about surrendering the policy .I was informed by your manager & staff ( Mr Roy & Prasanth)of thrissur( kerala) branch, that i wont get my money back. Even after describing the whole situation, the response was bad.

I decided to register complaints with SEBI, IRDA Ombudsman and file a case in consumer court . Also file a cheating case in high court of Kerala., putting my cousin as confessed witness & party against the policy.