SBI Life Insurance Complaints & Reviews

Dear sir,

Sub: SBI life insurance cheated us by seling wrong policy

I am Mr Ashok Nagpal from Mumbai was cheated by SBI Life insurance. Mss Shakshi from SBI Life Insurance has called on my mombile to sell her policy, we liked that policy and asked her to explain further she did and we liked the policy and ready to buy it . Then she just sent a form to fill it that contain my name, address etc my all detail ,, i filled that form and signed it and sent it to her but that form does not show any policy rule or policy explain to me any thing that form only contain my detail sudenly after few days i receive a documents showing some policy and my form attached with it with my signature on form not on policy .I was ready to buy some other plane and they sold me some other plane . The policy which i was ready to buy was told to me that i will get return Rs402500 in five year and every year i have to pay Rs 50000 and now i got document stating that i wll get return Rs157000 after five year and every yaer i have to pay 50000 .I I Complaned many a times but no solution, they asked me to complain with in 15 days i claed many a time to shakshi but no reply and gone to mumbai office of sbi insurence but no reply they had wasted my 15 days and now they are saying you should ocmplain with in 15 days sir i am educated person had investment many other plane so i know which is good and which is not . Cosidering the brand name i had trusted and ready to buy policy but you broke my trust by cheating me how can i trust you people now no body will like to buy your Policy i was suggesting my friend and relative to buy this policy but now i myseld fall in this blunder how can i suggest other peolple .

Request you to solve our problem we middle class people earn so hard and try to save by trusting you guies and then finaly you also cheat us then....

will wait for your kind and positive revert

Thanking you
Ashok nagpal

Sir I Prem Kumar S/o Late Kishan Swaroop, R/o 12, Sadaverti, Azamgarh. I have purchased some policies in SBI Life Insurance from Azamgarh Branch. But I was shocked when our legal advisor read these policies because i have been purchased a single premium plan and he gave me the regular premium plan. Some points are mentioned below please read and justice me.
* In the month of June 2010 dated 25th Mr. Ganesh Chaurasia, Licensing advisor of SBI Life Insurance, Azamgarh Branch was meet me and sketched some investment policies of SBI Life.
* I have to chased a single premium plan and he and his manager was advised me also for a single premium plan and he was saying this was the one of the best product in industry. Then I was agree with his committment and purchased these policies. One day i went to bank for taking some loans then he is asking if you have any FDs then loan process will be easy for you. Then I have to shown my SBI Lifes policies and he denied for that. Then I went to our legal advisor and he is saying all the things in this policies. Then we are going to SBI Life office his manager told me to please paid your due premium. I am saying all these things to manager but he cant respond me. All policies details are mentioned below :

* Prem Kumar (Policy No. [protected])(Product- SBI Life Unit Plus III)(Premium-99999/-)
* Prem Kumar (Policy No. [protected])(Product- SBI Life Unit Plus III)(Premium-99999/-)
* Rahul Kumar S/o Prem Kumar (Policy No. [protected])(Product- SBI Life Unit Plus III)(Premium-99999/-)
* Vijay Kumar Younger Brother of Prem Kumar (Policy No. [protected])(Product- SBI Life Unit Plus III)(Premium-50000/-)
* Vijay Kumar Younger Brother of Prem Kumar (Policy No. [protected])(Product- SBI Life Unit Plus III)(Premium-99999/-)

All policies was purchased in the month of June 2010 but presently all are lapsed due to fake selling.
So please give me my all money to me because i am in a reach man to pay these amounts.
Company and his employees are breaking my faith because i am illliterate man.
So please give me the positive responce.

Regds,
Prem Kumar
12, Sadaverti,
Azamgarh
Mob.No. [protected]

Respected Sir/Madam,

With due respect tha I am policyholder of oPolicy No.[protected] Money Back Plan of your SBI Group, but sorry to say that I am not satisfied for your agent commitment. I told me Mr. Ravi Sharma (IA & his senior Mr. Mohit Goel that my policyi is only for 5 years period but is not truth, my policy is made for 15 years, it's cheated me.

After that I told by phone Mr./ Ravi Sharma & Mr. Mohit, regarding this policyi, he said me that I will meet you soon, but he is not met me and again I told by phone but he is not receive my call and h e can't satisfied me. Mr. Ravi Sharma and Mohit GFoel have late me for surrending the policy. Under these circumstances we are unable to sand the policy for redemption.

The above policy we can't running for 15 y ears period, because my personal circumstances. So, you are humbly requested to please cancel the above policy and send my payment as soon as possible.

Thanking you,

(Meena Agarwal)
W/o A.K.Gupta
C/o Standard Computer & Type Centre
Ist Floor, Near Punjab & Sindh Bank
Modinagar-201204 (Gzb.) U.P.
Mob: [protected], [protected]

Dear Ma'am / Sir


All this stared when we received a call from an Employee of SBI Life (Ms. Neha & Mr. Akash Contact Number [protected] & [protected] resp). They said that they want to come and collect an installment for SBI Life policy - Shubh Nivesh Whole Life Plan as the amount is due.

We recently have changed our residence address, so we asked them to help us in changing the same in policy's document too. (Policy s in the name of my daughter Ms. Divya Mehta rest all detals are mentioned at the end.)

These two persons then planned a FRAUD against us as they took the installment cheque and other documents for changing the address. BUT instead of changing it what they did was they gave us a new policy by using all the documents. She also took our original papers of the first policy but we have kept few documents for the existence of the same and if require we will use it against them.

But these guys made a mistake they used a wrong photograph, this new photograph is completely different from my daughter's photo.....
We were totally surprised and agitated when we received a call this month for the payment due of our first policy. These guys gave us a new policy instead of getting the payment done for our first policy.

Now we have 2 policies running with an installment amount of Rs. 40000/- each (Rs. 80,000 in total)

How in this world can a person do this, we trust Company & it's people but if this is the result then I have full intentions to go Legal against them. We are about to take legal action against them and company as this is totally unavoidable for me. This action is completely unexplainable. Someone out there who is reading this and can offer help (from Govt's side) regarding the same can contact me at [protected] / [protected]@ymail.com.

#
Details of First & Original Policy
Policy Holder Name - Divya Mehta
Policy Name - SBI Life Shubh Nivesh
No - NOA / IP / 22599
Application Number[protected]
Proposal Number[protected]
Channel Code[protected]
IA / CIF Name - Netambit Insurance Broking Ind.
Head Office.
Installment Amount - Rs.40,000/- yearly (Date - 28/10/2010)
Policy Duration - 5 Years

#
Details of Second & Different Policy (Fraud done by SBI Life Employees)
Policy Holder Name - Divya Mehta
Policy Name - SBI Life Shubh Nivesh
Policy Number - [protected]
Proposal Number - 35QC071276
Channel Code[protected]
IA Name - Mrs. Pranjali Jadav
Local Service Branch - Dehradun 75, rajpur road.
Customer no[protected]
Installment Amount - Rs.40,000/- yearly (Date - 17/10/2011)
Policy Duration - 20Years



Thanks & regards
[protected]
Surender Mehta

Akash Deep Gupta on Nov.27, 2011


Not received premium payment receipt for year[protected] for policy no. [protected] due on[protected]

I had paid my premium on[protected] by Online payment mode through SBI Net Banking under Transaction Ref.no.MSBI[protected] and the successful transaction reported back through online and SMS alert by SBI.It was reported that Premium payment receipt can be download after three days of payment of premium but I am unable to download the premium payment receipt. Please send the same to my address through post.

Thanking You,

Akash Deep Gupta Policy No:[protected]

my policy no.[protected],mr.ghanshyam kasturchand mehta,plan.sbi-life-sudarshan planA,sumassured 50000.00rs. date ofcimmencement 9/792005 than till date we will pay regularly Rs.308.00 premium ,by online cut in my selary a.c. in sbi surendranagar branch.our agent is MR.ABHILASH PANCHOLI.
My complain is that sbi life no give me intimnation or information for primium monthly rs.308 is now 309.00 paid by me.
CURCULAR OF ERDA ,CUSTMER CANNOW PAY INSTED OF PREMIUM 308.00 NOW PAID 309.00 MONTHLY,WHY SHOULD N0T PAY 308.00,GIVE ME CIRCULAR OF ERDA SOON TIME. OTHER WISE I COMPLAINT TO CON SUMER FORUM SURENDRANAGAR TO PRESIDENT JUDGE.

dear sir,
INDIA INFOLINE INSURANCE BROKERS LTD (CODE[protected] approached me to do sbi life & offered me a free tour of 3 nights if i purchase policy of rs 50,000........accordingly, i paid rs 50,000......& they assured me a free tour within 1 month.6 months have gone & they now refused to offer me the free tour.

this is a case of cheating & sbi life insurance,despite my repeated intimation about this cheating,have not taken any step against the broker.

Sir,

I have paid Rs.12060/- on 14.9.2011 towards my policy premium for Pol.No.[protected] through City Bank Credit Card. while making the payment, it was displayed that the receipt will be dispatched after 7 days. But i have not received it so far. So, i request to arrange to send the same immediately or mail it to" [protected]@yahoo.com " or "[protected]@gmail.com"

G.Krishna Kumar, Hyderabad.

Respected Authority,

I have been victim of a fraud made by an insurance agent of the SBI Life Insurance Co. Ltd. The details are as below for your kind reference:

Name of Policy Holder: Dr. Ramesh I Patel
Customer No. 27596851
Policy no.[protected]
Product Name: SBI Life-Money Back Option 1

Name of the Policy Holder : Soham Patel
Customer No. 27887867
Policy No.[protected]
Product Name : SBI Life-Money Back Option 2

The chain of the incidents are as below:

Sir, I got a call (in mid-August, I don't remember the date) from a telemarketing person saying there is a scheme SPECIALLY FOR DOCTORS and CAs in SBI Life Ins. which takes Rs. 50,000/- p.a. for 3 consequent years making a sum of Rs. 1,50,000/- of investment and returns you Rs. 2,10,000/- on the 4th year which is its maturity period. She told her name was Ms. Mahi and would send an agent for further explanation.

Then, an agent naming Vijay Pal Sharma came to my clinic for explanation. He explained me the policy as below.

Yearly Premium: Rs. 50,000/-
Term Period: 3 years
Total Investment: Rs. 1,50,000/-
Accident Cover: Rs. 6,00,000/-
Bonus on Accident Cover: 10%
Survival Benefit on fourth year: Rs 1,50,000 + Bonus Rs. 60,000 = Rs. 2,10,000/-
Tax Benefit: 80C and TDS Free (10D)

I got convinced by him. Also, he said that to be the last date (it was 19 th Aug,2011) of the scheme and such a scheme will not come for next 10 years. He was in extreme hurry and got a form signed and took my photo and CHEQUE OF Rs. 50,000/- as FIRST PREMIUM and went back.

Few days after, that girl Mahi, called me back and said that the date has been extended and now, the family members are also inclusive and hence I should take one such policy for my wife or my son. I thought it was a good idea and told my son for the same. My son, a JRF with a Fellowship of Rs. 12,000/- p.m. did not even have the sum of Rs. 50,000/- in his account. He refused initially but on trust of his father's decision, he agreed to deposit the remaining amount and take such policy.

I sent Mr. Vijay Pal Sharma to my son at my home on 10/9/11 at 9:45 pm for the said matter. He went to home and said that day was last date and the office has been kept open due to it till 10 pm. He explained my son the policy in the same manner and in addition, said that if he takes the policy, his father will get another Rs. 50,000/- of accident cover. My son agreed. He said that he just had 15 minutes and hence my son should sign the form and give the photograph and cheque of Rs 50,000/- of first premium and then he ran back in hurry.

Few days after, I received my policy document and kept it safe with my trust in SBI Life with my belief that it is a Govt. Agency and my money is safe. my son too got his policy document and filed it safely.

Now, due to some other purpose, I went to my SBI Local Bank and while talking to one of the staff member, I mentioned that I have taken one such beautiful policy of their SBI Life. He replied in negative that there isn't such policy/scheme at all. I got shocked and said that I have received the official policy document then how can it be wrong? I went back to home, took my policy and showed it to the person. He opened it and showed me the details in the document which are as below in brief.

My Policy Details:
Product: SBI Life-Money Back Option 1
Term Period : 10 years
Date of Maturity: 29/8/2021
Sum Assured under Basic Plan: Rs 4,00,000/-
Sum Assured under Accidental Death : Rs. 3,00,000/-
1st Survival Benefit: Rs. 1,20,000/- on 29/8/2019
2nd Survival Benefit: Rs. 1,40,000/- on 29/8/2020
3rd Survival Benefit: Rs. 1,80,000/- on 29/8/2021
Due date of last premium: 29/8/2020

My son's Policy Details:
Product: SBI Life-Money Back option 2
Name : Soham Ramesh Patel
Term Period : 15 years
Date of Maturity: 14/9/2026
Sum Assured under Basic Plan: Rs 6,00,000/-
Sum Assured under Accidental Death : Rs. 6,00,000/-
1st Survival Benefit: Rs. 60,000/- on 14/9/2014
2nd Survival Benefit: Rs. 90,000/- on 14/9/2017
3rd Survival Benefit: Rs. 1,20,000/- on 14/9/2020
4th Survival Benefit: Rs. 1,50,000/- on 14/9/2023
5th Survival Benefit: Rs. 2,70,000/- on 14/9/2026
Due date of last premium: 14/9/2025

Also, the scanned copy of my form in the policy showed that Vijay Pal Sharma had filled on his own the details of 10 and 15 yrs of maturity period.

Now, I got completely stunned and thought what to do. I saw that my Free Look Period too has been over. I inquired in my reference branch and was said that nothing can be done.

I accept my mistake that I over trusted the guy and signed the form blankly as he was in too hurry and said that he will fill-up the details from our ID proofs. Another mistake that I have been unaware of the free-look option and hence did not verify my policies immediately.

Now, I am not in a situation to pay the premium of Rs. 50,000 per policy (Rs. 1,00,000/- from my family) for next 10 or 15 years. I was said it to be of 3 years only. This is clearly a case of Fraud and must be acted against. I no more want to continue with this and want to surrender my policies and want me first premiums back.

I hope the details are enough to proceed with the matter. The visiting card of the Agent Vijay Pal Sharma (showing him to be a Financial Consultant which is a never existing post in SBI Life) and his hand-written document in explanation of the policy still lies with me, photocopies of which is available on demand and are uploaded herewith.

Please help me out in getting my money back.

Dear All,

This is one of your Well Wisher ,like to inform you that-Mr Subhabrata Maiti(BM,SBI Life -Haldia)is a cheat person in Insurance INDUSTRY !!!!!

As a Branch Manager he cheat with CUSTOMER and as well as SALES MANAGER.He also cheat with ADVISOR.

His Job Responsibilities:

1.Wrong Data sharing with Customer.He cheat with all CUSTOMER by giving Excel Sheet Presentation.
2.Partiality and Corporate politics with SALES MANAGER
3.Cheat with ADVISOR by do not given any GIFT.He use those Ad visor's GIFT.

Thanks to all........

Follow this BLOG!!!!! I update with proof..........

INSURANCE GURU

Not getting premium reciept
Dear Sir,
I have a SBI life HARIZON-11- plan A policy no [protected] and thereby i have deposited the premium amount on APRIL 2011 & AUG. 2011. But I have not recieved the premium reciept( 1 yr ) till today. So I request you to send it as soon as possible to my communication address as well as to my e-mail address.

sachinandan dasadhikary


email: sachi.[protected]@gmail.com & [protected]@yahoo.com

address: SACHINANDAN DASADHIKARY ( P. NO-[protected])
vill+po- bamunia, ps- mahishadal
dist. purba medinipur-721628 (WB)

i have invested rs, 50,000 / per anum in sbi life insurance co.ltd. as per sbi authorised agent guide me as you have invested 50,000/ per anum upto three years & after three years you should get rs, 2,55000/-& as per information given through sbi ahmedabad memnagar office that you will only get 30% of your premium amount,
in this case what should i have done? pl. guide me & do the need full

Policy No service req no
[protected] 845728

I have raised the request twice(Same Request No) for statements and policy receipts for the above policies, but haven't received any soft copy for the same.

Am not sure is SBI not interested for sending the payment receipts, if it is the case please let me know .

I have escalated to rajkumar.[protected]@sbilife.co.in, but no response....


Regards
Kiran

I have been cheated by Insurance Advisor of SBI LIFE They have given me Money Back policy in which they have promised me that you have to pay premium only for 3 years but now no contact by agent when i check it online i have a big loss also. this is a complete case of cheating by SBI LIFE COMPANY I want my Money Refunded

fund switching problem
hi
this is varre ramulu goud ihave i have a problem in switching the fund i have done fund switching tranfer from bond to equity fund on[protected] at 9:30 am but when i checked the policy details history it is showing the transfer is happened on[protected] because of this i am not getting the benefit of[protected] units value so
kindly look in to this problem and clear same sap yhis is my policy number [protected]&[protected]

regards
v.ramulugoud

Hi,
This is varre ramulu goud , my policy no. [protected]. I have a problem in switching the fund I have done fund switching transfor from bond to equity fund on 27.08.2011 at 9.30 am complete, but when i checked the policy details hystry it is showing that the transfor is happened on 29.08.2011.Because of this I am not getting the benifits of 29.08.2011 , units values so kindly look in to this problem and clear the same ,

Regards,
varre ramulu goud

Sir,I am a holder of policy number [protected],under Sudarshan B plan and my Savings Bank Account number under State Bank is [protected].Recently I paid my Renewal Premium for the month of August 2011 of Rs 4664/- online.I also received a Premium Renewal Receipt of Rs 4688/- On 3rd August,2011 I received an Sms where it stated that SBI Life had received payment of Rs 4688/-and the reference number was 485719.Again on 6th August,2011,I further received another SMS where it stated that SBI Life had received a payment of Rs 9376 against renewal premium of SBI Life.
I immediately checked my account and discovered that my SBI Savings amount had been debited by an extra Rs 4688/-Now I request you to kindly into the matter and either credit the extra payment to my Bank Account or treat it as an advance premium payment for February 2012.I would be grateful if in case of the latter,an intimation is given to me.

Dear Sir
*Name of Complainant ---- Mr SIDDHARTH JAIN
Communication Details
• 23, OPP.AGRASEN BHAWAN

*City/Town/ NEORA
Taluk/ TILDA
District RAIPUR
*State C.G.
*Pin Code 493114
E- Mail Neora.[protected]@yahoo.com
Telephone No [protected]
*Mobile No [protected]
Fax No

*Insurance Company Name SBI LIFE
*Date of Birth of Policy Holder 10.10.1992
*Policy No: [protected]

Policy serving Brach Code/Address SBI RAIPUR
*Details of the Complaint My original proposal was for 50000/- Siddhartha jain and Rs. 50000/- for Aaditya jain But both are unmatured
So ID. & Adress proof was taken of father RAJESH JAIN by bank officer
but after some time we get only 1 policy .for Rs.100000/- which was in favour of SIDDHARTH / RAJESH JAIN & insurance cover of only Siddharth jain
As on 29 JULY talk with MR. RAJKUMAR RAIN [protected]
ABOUT ACTION FOR POLICY, He request for send POLICY & take refund
RS 100000.00
BUT I REFUSED TO TAKE REFUND
I want ACTION for this CHEATING
I APPLY FOR DUPLICAT POLICY because my original POLICY was misplaced
I send SURETY BOND ,DD OF Rs.132 , MY PAN CARD
WHEN I REMIND [protected] Dt. 18.08.2011FOR DUPLICATE POLICY ,MR .RAINA SAID I CALLED
POLICY & WE ARE NOT SENDING YOUR DUPLICATE
POLICY,WE SENDING YOUR POLICY PREIUM AMOUNT Rs 100000.00
BY BLUE DART COURIER not sending original policy
*How any one cancelled my policy withoud my consent/ application/sighnature
SIDDHARTH JAIN
[protected]

I am CT.Subbu, working as Dy.Manager in State Bank of Travancore, HAPP Branch,Tiruchirapalli. I am a CIF, my CIF No. being 440459. want to know the pleasure points pertaining to my CIF. But I could not login to the website since July 2011, the status of site shows as " UNDER MAINTENANCE, WE WILL COME BACK SOON". I can't understatnd the real meaning of "SOON"- is it for months together ?!!! I would like to know whether there is any change in the website address for logging in to verify the pleasure points. If so, kindly let me know the same per turn mail to my email address: [protected]@gmail.com.

Thanking you in anticipation,

SUBBU,CT.
Tiruchirapalli

Hi,
My name is SONU CHAUHAN.My pan number is CLFPS6575L. Actually i did not get refund for[protected] year. It is already 1years past. Initially income tax people was saying there is some address mistake. I made corrections in my address also, still i did not get my refund back to me. Kindly help me for this.
Regards
SONU