[Resolved]  Reliance Life Insurance — Misguided Selling of Policies using Fraud Agencies

This Complaint is regarding to the Reliance Nippon Guranteed money back plan purchased from fraud agent, MR.North India Finserve Pvt Ltd and MR.North India Finserve P Ld xz.

Vikash is the Agent name and number is-+91-[protected]

Agent communicated in Feb, 2020 that if I invest Rs 50000 PA in this Gurantee Money back policy, after surrender by the end of 4 years I would get sum of Rs 3, 05, 000/- . He also told that if I pay the entire premium Rs 50, 000 through credit Card, company will reimbursed the Interest portion, but reimbursement never received.

Again I got a call from him in April, 2020 and said that there is an offer in the Covid Lockdown period and assured me that on paying Rs. 50, 000 and the same will be managed in existing policy and I would have to pay only the next 2 year premium on existing policy and get a return of Rs. 2, 50, 000.
But later on I got a message from RNLife that a new policy has been started on my name Policy No. 537034**.
I called him then he said that he will merge policies on the time of premium payment, but I am trying to reach on his phone. It has been switched off since the last 3 months.
So I called to Reliance Nippon Customer care, Customer care and after checking with the Reliance customer care it was found that there is no such scheme available and only Rs- 97, 000 will be received on surrender after 4 years and another policy can't not be merged in first one. And I would have to continue both polices for getting return.

It is a simple case of Mis -selling, mis-representation, Rebating & Fraud.

I requested Reliance Nippon to take an action against this Fraud agent and return my money but entire customer care team indirectly supporting this agent.

Fraud Agencies are in tie-up with RNLIFE :--
All these 3 companies are registered on the same address:

Agent/Broker Name: Mr North India Finserve Pvt Ltd
Agent/Broker Code: 22398433
My Policy No: 536620**

Agent/Broker Name: MR.North India Finserve P Ld xz
Agent/Broker Code: 22430984
My Policy No: 537034**

Agent/Broker Name: MR.North India z Finserve Pvt Ltd
Agent/Broker Code: 22419888

210 Surya Kiran Building 210 Surya Kiran Building 19 KGMarg New Delhi110001
Phone No: - [protected]
Misguided Selling of Policies using Fraud Agencies
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Aug 7, 2021
Complaint marked as Resolved 
Mar 20, 2021

Complaint Status

Reliance Life Insurance customer support has been notified about the posted complaint.
Verified Support
Mar 23, 2021
Reliance Life Insurance Customer Care's response
Dear Sir,

Further to your telephonic conversation with our service representative, allow us to resolve. We will get back to you within a couple of days with a suitable resolution.

Regards, Reliance Nippon Life Insurance Team
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