SBI Life Insurance Complaints & Reviews

Respected Sir/Madam, This is to inform you that I have taken a policy SBI Life Subh Nivesh (Policy number:[protected]) from broker Mr. Abhishek Ghosh, SBI, 3rd Floor, 1. No Strand Road, Samridhdhi Bhavan, Kolktata -700001 Contact No. [protected] .He approached me in January 2015 and introduced himself as “ARNAB” from SBI Stand Road Branch and told me about special offer with this policy which is valid up to that month only. False Information and Misguidelines: 1. He committed that I will be getting all data in written with statement of SBI. I have to pay Rs 30, 000/ (Thirty Thousand) only p.a and will get back the amount after five years total Rs. 240, 000/(Two Lac Forty Thousand)only plus there will be medical Insurance of two persons of my family as well along with accidental benefit and tax rebate. 2. When I checked the Subh Nivesh policies terms and conditions found no such 5 years plans and conveyed to Mr. Abhishek, he convinced me as it was special offer for one month only and this information is not circulated in Internet or to all SBI life offices as well. Then I asked for written documents in support on his deliberation from his official e_mail. He said the same mentioned above and also said that these benefits are not for all the customers and very few customers’ profiles from SBI are only selected for the same from their Head office Mumbai and I am one of them and he cannot provide me anything in writing as it was a special case but I will get all the things written in my policy documents. That time I was in Medinipur town and told him the same. Instantly he agreed to send someone to my home at Medinipur. And next to next day one person came to my home and said he was in a hurry because on The same day he has to return to Kolkata and it will be very helpful if I leave him early only making a single sign in every page and rest of the columns will be filled up by their executive after collecting all the information over telephone from me and I agreed on the same as those pages contain only the personal information no monetary terms and thereafter I signed over few pages leaving the forms blank along with 2-3 pages for mediclaim. That time again I asked for the written documents as per his commitment and that person “Arnab” over telephone instructed the person something and he gave me few papers which I filled up clearly in my handwriting the investment amount total Rs. 150000/-(One Lac Firty Thousand) only for five years and the return amount Rs. 240000/- (Two Lac Forty Thousand) only. After that he made me filled up the papers for mediclaim also where I kept my daughter and mysel[censored]nder that policy and submitted the birth certificate of my daughter as said by him along with other papers. 3. Purchased the policy with check and filled up the form and handed over it to the broker. When Policy document came found - Different handwriting in the filled up form and the maturity date was after 15 instead of 5 years -The contact number is the agent’s personal number. -There was no such written statement about 5 years terms and the sum assured to me. -No documents of mediclaim policy -My marital status is written single where I am married with one child -My occupation is written as financial consultant with annual income R. 250000/- (Two Lac Fifty Thousand)only which is absolutely false as I am a housewife and nowhere attached with any occupation after my baby is born. 4. After informing Mr. Arnab the same verification call (probably false) from the no [protected] came to me, I detailed above discrepancies. They started lying that separate document (Part II) will come very soon and all the stated details will be there along with medi claim policy. And if required I can cancel the policy within 15 days after receiving the second document. 5. Meanwhile I called him up several times as he said that within 30 working days I would get my 2nd document (PART-II). On expiry of 30 days again I called him and he said that due to financial year ending it was stopped from their Head office. Then again after few days he said that as 4 months have been passed I have to wait for 6 months to get my 2nd documents which will come including the bonus amount. Till now I have not received any second document and the broker continuing his lying that the second document will come very soon. Called to Customer care and found the policy is registered for 10 years terms and I have received all the document on February 2015 and there is no such existence of second document and obviously I have crossed the 15 days limit to cancel the policy waiting for the second document. And after that whenever I am calling him either he is disconnecting my phone or someone else is receiving his phone on his behalf of him telling me that he is busy in a meeting. Then I realized that the papers which were produced before me and collected my signature for mediclim policy and investment amount and return amount were false and from my smartphone i searched his no and found his name is “ABHISHEK GHOSH SBI LIFE”. Now I want to cancel this policy and want to get back paid premium. Please suggest how to cancel this policy and get back full amount. Also I request for an investigation against this broker Mr. Abhishek Ghosh, broker[protected]found in the scan copy of my proposal form). This is also to inform you that I found from internet many fraud cases against your broker M. Abhishek Ghosh.” Which proves that hs is continuously cheating with many others from long time and no action has yet been taken against him. I want your good self to take immediate action against him and also I want my hard earn money back immediately. Thanking you Yours faithfully

In July 2014 I received a call from SBI insurance adviser and they described the policy as below Subh Nivesh: (Policy number [protected]): I will get sum assured plus bonus and the premium paid at the end of the policy. Smart Money gold: (Policy number 1N[protected] I will get sum assured as endowment plus bonus and the premium paid at the end of the policy. I opted for both the policies in July 2014. But I received Document in September end. I checked the document and it was mentioned that I will get sum assured plus bonus and Terminal bonus if any. When I inquired form the adviser about the part (Premium paid) they said The terminal bonus is mentioned there .They said premium paid is like FD and other things are benefit. They said I will receive another document in April 2015 in which everything will be mentioned. But in April I dint received any document then I tried to call back them but no answer. When I contacted SBI they said I wont the part Premium paid.After few mail chains SBIL agreed to refund one policy but they are not refunding the policy Subh Nivesh- Policy number [protected] This seem to a cheating scam run by SBIL where they have hired cheaters to chit innocent people that's why they have included misleading terms in their documents such as "Terminal bonus if" which can be defined/described in any means to cheat people. I have the call recordings which I shared with the concerned department of SBI but they are not listening. I request others to refrain from SBI life insurance. Its a gang of Cheaters.

Respected sir. I want to inform you my self Yogesh.I have invested my Money in SBI Money Back Gold PLAN on dated 18/05/2015.and got Proposal number within 2 working days. but till date I have not received my original policy document. i have done complaints many time to customer care but not getting satisfied reply. they told me every time, you will get your original policy document within fifteen day but i am waiting for my policy, nearly 2 months passed but no satisfied reply and not getting my policy from company. i think company has cheated to me. so, kindly help me for getting my original policy document. and take necessary action on company for delay in its service. i will be grateful to you. Proposal Number: 1NQE179938 Contact Number:[protected]

I mr. Shailendra wasudeorao shende ([protected]) has availed home loan ([protected]) in 2009 from nagpur branch, but not received rinrakash policy document. Kindly mail me the soft copy. The duplicate copy is not available online. Kindly do the needful.
My email-id : shailendra.[protected]@gmail.com

From:"Mayank Saxena" Date:Sun, Jun 21, 2015 at 9:07 PM Subject:Fw: Request # 4622975: Website Grievances-Complaints Sir my name is mayank saxena andmy number is [protected] i surrender sbi life poliy but company gave me less amount on maturity as intimated by the company they give 4000.00 less amount i communicate through email but they did not rspond me pls help details with e mail send by me and sbilife with complaint reference are as under hoping that u will help me ----- Forwarded Message ----- From: SBI Life To: [protected]@YAHOO.COM Sent: Saturday, June 13, 2015 8:18 PM Subject: Request # 4622975: Website Grievances-Complaints Dear Sir / Madam, Thank you for writing to us. With reference to your query, we wish to inform you that your request has been registered and we shall revert to you shortly. Kindly bear with us in the interim. NOTE: Register for E_Statements by visiting www.sbilife.co.in and join in our Go Green initiative. Please ignore, if already registered. For further assistance, please write back to us at [protected]@sbilife.co.in or call us at our Toll Free Number[protected] am - 9 pm, 7 days a week). We will do our best to assist you. Regards, SBI Life Insurance Co. Ltd. [protected] Original Message[protected] From: [protected]@yahoo.com To: [protected]@sbilife.co.in CC: Date: 6/13/2015 12:27:59 AM Subject: Website Grievances-Complaints Website Complain From : mayanak saxena Email : [protected]@yahoo.com Policy Number : [protected] Product : SBILife - UnitPlus II Pension Agent Name : Training Institute : Complaint Against : Others Complaint : sir i surrender my policy on 19 feb 2015 . i was told that i will get a sum of rupees 163103.45 on surrender and i submit the policy with all connected documents and PAN card but i only get approximate rs 159000.00 why i get 4000 less amount as i have submitted my pan card no deduction on tds be made by sbi life pls clarify the same immediately and with proper documentation otherwise i will proceed legally

I am a policy holder NO.[protected] date 23 February 2007 of SBI Life Insurance Company there agent mr.mukerjee sold me various policy time to time and I always chose annul mode of premium for all polices. this said policy he marked mode of premium half yearly amount of premium was 50000 fifty thousand rupees Later on I came to know mode of payment and complaint to him he told me don’t worry you stop the payment and you will get back this payment many time back whenever I am in India I submitted my request to the SBI Life Insurance Company since 2011 in fact I submitted surrender proposer along with policy document at SBI office, Dayanand marg, Darya gang, Delhi till date 12.04.2011.not received any replay personally I visited SBI the said office and as I remember the name of the officer that was NEAH GUPTA she told me that as per rule after some detain of amount as a penalty rest of amount will automatically SBI Life insurance give in your account after august 2012 after this many time I mail but no fruitful result received even once I submitted my request please a copy of my proposer details policy NO.[protected] which was sign by me department provide me till the date I am waiting I request to take necessary action at your end and inform me Warm Regard Vijay Mehta

Sir, On 30.4.15 I the police holder submit an assignment form with duly fill up through SBI Khetrajpu/ Sambalpur with my original bond paper of policy No. [protected] for loan being mortgaged the same. On 08.5.15 I received a message that the Assignment has been registered in favour of SBI/ Khetrajpur/Sambalpur. But till now i.e. 22.05.15 the recommendation/registration form has not been received by SBI/Khetrajpur/Sambalpur. Hence kindly look into the matter

Date : 26/04/2015 12:29:57 SANJAY PURSNANI FF-1 KAMALDEEP APARTMENT NEAR SARDARNAGAR POLICE QUARTERS SARDAR NAGARAHMEDABAD GUJRAT - 382475 Reference Number : SR.No. 4495371 IRDA Token number :[protected] Sub: SBI Life Policy number [protected] Sir / Madam, >From: [protected]@gmail.com >To: [protected]@sbilife.co.in;[protected]@irda.gov.in >CC: >Date: 26/04/2015 12:30:33 >Subject: Mis-selling of...

Hi Sir/ Madam, My name is Rohini.J i have made online payment of permium of Rs.6614 but payment not done showing as"Reason: Sorry! We are unable to process your transaction. Please contact us at [protected]@billdesk.com for any queries."Amount has been debited from my Bank Account. Kindly do needful. Regards Rohini J rohini.[protected]@gmail.com

MY PROPOSAL NO [protected] DECLINED BY SBI LIFE INSURANCE.I HAD BEEN MEDICALLY EXAMINED AT BARDOLI BY DR.MAHESH SHUKLA.I HAVE CONFIRMED FROM CONCERNED LABORATORY AND MY REPORT FOR FBS IS WITHIN LIMIT i.e 100.I AM VERY MUCH PARTICULAR/REGULAR ABOUT MEDICINES .MY B.P ALWAYS COMES AROUND 110/80.I AM REQUESTING TO RE EXAMINEPL. MDSUTARIA

i propose a new policy few days ago i am already cancel my propose when i got call from mumbay bud still they not ready to refund my money to my account they keep calling me and disturb me how to i get back my money my proposal no51ab1728--

Dear Sir/Madam, I have received my policy No.[protected] on 4th of April 2015 at my residence, which was submitted for FLC on 6th April 2015. However, this is not the end of story as its a clear case of cheating/fraud by SBI agents or Broker or representative? Request you to please read below information how it happened and guide me on next steps: 1. On 23rd March 2015, I have applied for a SBI Life policy against proposal no. QI105486 2. After receipt of policy on 4th April; I have realized that it is not in-line with the promises made by so called SBI Life person Mr. Sachin Gupta from phone numbers[protected] and[protected]. 3. When I tried to call to discuss with him on both the numbers[protected] and[protected] since 4th April 2015 and both the numbers are coming as switched-off and it was the reason of my suspect that there is something wrong. 4. The explantion given by Sachin Gupta for this policy was as below: - I have to 60000 Rs/annum for 8 years and at the end of 8 years I will get 12% pm compounded interest i.e. Rs. 826, 540/- - In addition as this is directly with the SBI Life and there is no agent in between, so I will get Rs. 12, 000/- X 8 = Rs. 96, 000/- additional at the end of 8 years. So, at the end of 8 years I was promised for a sum of Rs. 826, 540/- + Rs. 96, 000/- = Rs. 922, 540/- (Nine Lakhs twenty-two thousands five hundred and forty rupees only). 5.After reviewing the policy document I found that the sum assured value = Rs. 429, 000/- only 6. I also think the signatires on the page 45 & 46 of the Policy Booklet received are not mine. 6. They also told me that this policy is directly from SBI Life and no broker or agent in between. However, when I got the policy PROBUS INSURANCE BROKER LTD. name was clearly written on Page 3 of the Indurance booklet. 7. I have now received a refund of 59893 Rs. from SBI Life on 16th April 2015, which is 107 Rs. less than my original amount. In view of all I think this is a clear case of Cheating and fraud and looking forward for your support to suggest next steps and also what action you are taking against these people or agencies? Also who will compensate for my interest loss on Rs. 60, 000/- from 28th March 2015 to 16th April 2015 (20 days)? More than this kindly let me know who will compensate for my 2 days loss to discuss next steps, to go and submit policy to SBI Life Gurgaon Branch and also mental torture I faced. I have purchased this policy considering SBI as a Govt. of India company. These cheaters are defaming name of our country and cheating peoples. They must have done the same thing agaisnt many others people who even could not make out from policy document that it is not in-line with what was promised upfront. Looking forward for a positive response. Best regards, Bharat Sehrawat New Delhi -110070, India Mobile:[protected]/[protected]

1. my sbi life policy no.[protected] 2. name: p. ravinder reddy 3. type: money back policy IV 4. date of 1st premium: 7.12.2010 5. yearly premium: Rs.45000/- 6. date of surrender: 7.4.2015 I have paid a sum of Rs. 2, 25, 000/- in total for 5 premiums. and an amount of Rs.48, 000/- was paid to me as money back policy. now, on surrender of the policy I got only Rs. 66, 014/- in total. This is very much injustice to a cumstomer that too by a national bank. I didnt even receive 1/3rd of my own amount, leave alone the interest part. this is nothing but day light cheating the customers. while joining the policy the agent told lucrative amounts even on surrender. but the situation is dark. i am going to ombudsman also if my paid amount with interest is not refunded

my customer no[protected] policy no: [protected] sir/madam above policy commencement date was 31 march 2014 . already paid against my due premium(due date 31/03/2015) on dated 30/03/2015 through sbi internet banking vide transaction reference no: BSBI[protected], order no: 2487433, amount paid- 24643.00 . but again above premium was decducted through EFT from my account on dated: 31/03/2015. still i had been not receive my extra payment .kindly refund our amount as soon as possible. where your CIF is not responding in this regard. policy holder GANESH BAHADUR SINGH

On 31st March`15, I brought two cases in SBI Life Thane Branch. As the customers are having financial constraints, the cheque amount was paid by a good well wisher and to encourage the poor. To my surprise, Thane branch did not accept the cheques telling that (1) There is no system of accepting the cheques directly from any 3rd party.(2) If he is an employer, then there must be atleast 5 such cases. (3) The cheques are to be issued by the customers directly. (4) The well wisher can deposit the amount in to the Bank account of the customers and customers can issue the cheque to SBI - Life. What a ridicule system? My questions are (1) what is the problems with SBI - Life if the cheques are issued directly? (2) SBI -Life should be concerned to get the exact amount from his customer, what matters to them if the money is donated by a friend/well wisher/employer? (3) Suppose it is paid by the employer, why there should be the system of accepting atleast 5 cases? Let the employer help any number of people, what is the problem with SBI - Life? Such un-friendly attitude should be stopped immediately. For any system either the customer or the Organisation should be benefited. In such case, only the customers are harassed for no fault of them. My intention was to help the poors and under privileged class of people where the Officers of SBI -Life do not reach. I would like to encourage the under privileged people who cannot bear the expenses and are supported by well wishers. But if such unfriendly laws prevail, then they are going to be deprived. Hence my request the Management of SBI - Life to make the system easier and friendly. However while settling the Insurance Policy, it is to be seen that the right person must get the right amount at right time properly. Thanking you

Dear Sir, I am holding SBI Life insurance policy no. [protected] dated[protected] name of Mrs. Vinita Upadhyaya. I have been visited your Almora Branch on[protected] and done all the policy closing related formalities. The fund value told us by the concerned person was INR204954.99 and he informed us the same day he will close the policy and with in a week you will get the fund value on your giving bank account. After few days when we enquired about the status of our fund value the branch staff informed us this policy is close today[protected]. I was surprised to hear this from the conserned official and as per his statement the value was decreased around 3000 INR. Even if all the formalities were done from our part and was clearly informed to the staff to close on the same day and just because of staff clearness why we have to bear this loss. It is requested toSBI Life please inquire this case on urgent basis and recover the loss. Thanks and Regards, Vinita Upadhyaya

RESPECTED SIR, WHEN I APPYED PERSONEL LOAN AT J K NAGER BRANCH (7410) BRANCH MANAGER MOTIVED ME WHEN YOU WILL DO THE POLICY NAME:- SBI LIFE SMART GUARANTED SAVING PLAN THEN YOUR LOAN MAY BE PASSED BUT AFTER READ POLICY DOCUMENT I VERBILE INFORMED B.M.&NEREST INSURENCE OFFICE BUT HIS NET WORK PROMBLE OURCEED19.03.2015 NOW BOTH ARE DENY

Dear Sir, I am holding SBI Life insurance policy no. [protected] (attached) dated[protected] name of Mrs. Vinita Upadhyaya. I have been visited your Almora Branch on[protected] and done all the policy closing related formalities. The fund value told us by the concerned person was INR 204954.99 and he informed us the same day he will close the policy and within a week you will get the fund value on your giving bank account. After few days when we enquired about the status of our fund value the branch staff informed us this policy is close today[protected]. I was surprised to hear this from the conserned official and as per his statement the value was decreased around 3000 INR. Even if all the formalities were done from our part and was clearly informed to the staff to close on the same day and just because of staff clearness why we have to bear this loss. It is requested to SBI Life please inquire this case on urgent basis and recover the loss. Thanks and Regards, Vinita Upadhyaya

I purchased a policy "SBI Life - Shubh Nivesh Whole Life Plan", with the following details :- Policy Number : [protected] Name : My Name Premium Amount : 15062 Premium frequency : Half Yearly Purchase in :March 2010 Term : Maturity 5 Years Current situation : Matured At the time of taking policy in March 2010 the agent told me that by the end of 5 years i will get Rs 2, 30, 000 So in these 5 years i paid total 15062 * 10 = 1, 50, 620 And i got : 1, 29, 477 This is a clear fooling, leave aside the benefits i am getting 20, 000 less than what i actually paid to the SBI Life Where has my hard earned money gone ? Thanking you, Sanjeev Kumar Pal

SIR I HAVE PAID THE PREMIUM AGAINST MY POLICY NO- [protected]OF RS, 12500./-THROUGH NET ON 04/03/2015.mY A/C HAS ALREADY DEBITED BY RS 12500/- BUT I HAVE NOT RECEIVED THE THE PREMIUM RECEIPT. IT IS URGENTLY REQUIRE FOR SUBMITTING TO MY EMPLOYER TO CALCULATE THE IT REBATE.FOR INCOME TAX PURPOSE PLS ARRANGE TO SEND THE SAME TO MY MAILING ADDRESS AND SOFT COPY TO MY MAIL email ID [protected]@gmail.com THANKS PRASHANT WAKANKAR 307, SILVER ESTATE UNVERSITY ROAD GWALIOR M.P.