[Resolved]  Reliance Life Insurance — refund for policy# 53570456 sold to me by unfair means and business practices

I already dropped an email for the same on oct 3, 2019 and have not received any response yet from your team. Also, called you customer care multiple times and they all say it’s a work in progress and do not have any further update to share with me.

Here is the issue:- i took reliance nippon life insurance guaranteed money back plan from one of your policy agent. Based on benefits explained to me by them i bought a policy# 53570456 for myself - jaspreet singh chawla which has a premium paying term of 10 years and policy term 15 years. I opted for 1 lac yearly premium and paid 1, 04, 500 online (Including gst) around sep 25, 2019. Then i received policy document online, checked all benefits and payments in it and to my big-big surprise it is only near 13 lacs that i would be paid in total by 15th year whereas while taking policy i was told i would get total 26.5 lacs by 15th year end. Also, i was told no tds or tax would be deducted whatsoever.

I then checked with your customer care executive named ishwari over call why only 13 lacs payout is shown in policy document. She confirmed payout will be only 13 lacs. Also, tds of 1% would be deducted every time any payment is made to me.

I am deeply saddened that i trusted your team/agents and took the policy. I will never trust reliance, it becomes so so difficult and impossible for me to trust you and your brand because of your team who sold me this policy based on false promises and using unfair means.

However, i wish to cancel the policy and get the complete refund amount of 1, 04, 500 into payment source asap.

I already dropped an email on oct 3, 2019 for cancelation stating above reasons and i have not received any response yet. It’s been 10 days.

Do the needful asap to get me my full refund asap.

Reach me on [protected], if you face issues while reaching out to me, keep trying until you connect to me, that is what i do - call multiple times to connect with you on your customer care#

Hoping for an expedited/early resolution. I need the funds immediately.

Quoting reference# [protected]
Policy# 53570456
My mob# [protected]