SBI Life Insurance Complaints & Reviews

I have been regularly paying my Policy premium against SBI Policy number [protected] till around Feb 2017 via ECS from my Citi Bank account.

Since i had to change my job, i had requested for a bank account change from CitiBank to HDFC bank via SBI defined process ( filled forms and submitted all required documents, cancell cheques etc...) I had also submitted cheque of Rs.60, 000/ at the time of Bank change as asked by SBI .

My bank account got changed in the month of March 2017 already but they had not started my ECS with no communication / intimation to me. I had started my follow up since than and have not been getting any response from them. Now my policy has lapsed and i am asked to pay all the balance amount in on shot which is around 1.6 L and that is not possible for me.

There is no mistake of lags from my side but there was a mistake and lapse from SBI, i am now in a situation where i had to pay such a huge amount for no fault of mine. I would like to raise a compliant against SBI to get my money back or get some relaxed payment options.

I took sbi life insurance few years back.

Once wanted to change mode of emi from monthly to half-yearly. Went to their office in bangalore and given the request. It was not resolved for 2 months.

Wrote mail to customer care, called them in personal. Final answer is - backend team has to fix it but they are not fixing. So no coordination with in front and back end team of sbi life.

Asked them to close my insure who said it can done after 3 years.

Went to their office after 3 years, they said "it can closed only after 3 years and 1 month"

Totally useless insurance company in terms of service.

I am working as insurance agent for the past one and half year in the sbi life insurance office located in pondicherry. I had put one policy before one year in my husband name. For that I will received my commission amount to that premium in first year. But second year after paid the renewal premium I never got my commission. Before 9 months I would like to put one policy in my mother's name. For that I was given money 20000 to my policy advisor. Till he neither put any policy to my mother nor give my money. My IA code is[protected]. My code was deactivated. I was complain about this to dsm. But he never response to me. Please return my amount or put any policy to my mother name. Please arrange this. That policy advisor blocked my phone number .please help me

Dear sir/ma'am,

I am writing yet again to resolve my complaint no. 08981073. This is regarding the surrender of my sbi life policy no. 1b[protected]. I surrendered the policy on 27 march 2018 but still have not received the amount in my account. It has been more than a month that i surrendered the policy and i required the funds. What kind of a shoddy service is this?? Request you to process my amount and not compel me to take harsher steps of going to higher authorities. Rest assured if my complaint is not adhered to i won't be either taking your services in near future neither recommend it to someone else.

The background is such that i took the sbi life policy no. 1b[protected] years back in 2013 and surrendered it this year on 27 march 2018, at the sbi life sant nagar office in new delhi, before its maturity date on 31 march 2018.

Now the sbi representatives tell me that the policy has gone into maturity and nothing much can be done about it. Request you to do the needful. I needed that amount that is why i surrendered the policy. It is my own money and now it is locked for another 15 years.

Request you to look in the matter and get me my money at the soonest.

Thank you.

Regards
Jyoti

Dear Sir/Ma'am,

I am writing in to make a complaint against SBI Life Policy No. 1B[protected].

The background is such that I took the SBI Life Policy No. 1B[protected] five years back in 2013 and surrendered it this year on 27 March 2018, at the SBI Life Sant Nagar office in New Delhi, before its maturity date on 31 March 2018.

Now the SBI representatives tell me that the policy has gone into maturity and nothing much can be done about it. Request you to do the needful. I needed that amount that is why I surrendered the policy. It is my own money and now it is locked for another 15 years.

Request you to look in the matter and get me my money at the soonest. Just for your information, I also received the bonus amount of the policy on 28 March 2018.

Thank you.

Regards
Jyoti Kalbhor

Respected sir i want to change my mobile no from my sbil policy [protected]. My mobile no is [protected]. This is my present mobile no attached with account adhaar. And this is my contact no. Pls change. And also my pan and adhar not updated with my policy. Because present mobile no update is most important to me. Addres gotta vill
Hiramandalam
Sklm

My Name Shabeena Akhtar
Policy No. [protected]
D/O late Mr. Abdul Jameel
Contact No. [protected], [protected]

I am purchase SBI Life Flexi- Smart insurance dated 31- March. 2013.
i am pay first payment of my policy in amount of Rs. 49, 900.
i am not satisfied this insurance policy so i am cancelled my policy No. [protected] dated[protected]. but the amount of Rs. 49, 900 is not credited in my Account. the amount of Rs. 49.900 is credited in Nominee account (Mr. Mohd Tahir) Accounts No. [protected] IFS Code. SBIN0003570 please action taken my policy, no.[protected] wrongly correspondence and two witness Mr.Mohd.Khursheed Branch manager Bharti Axa and Mr.Shadab Iqbal sales Manager ( In witness whereof the said Shabeena Akhtar have hereunto put their hands at Aligarh this ...day of March 2015 ).

Please Solve my Case sir/mam
jay hind jay bharat

Surrendered above policy on 07.03.2018 at jadavpur branch. Enquiry came from mumbai for confirmation on 09.03.2018. Till date the payment is unreceived.

Specifically mentioned the reason of surrender being "urgent requirement of funds" both on the surrender form and during telephone inquiry.

I am an old customer having 7 (Seven) policies with your concern. But i could not imagine such a callous service from your end.

Please look into the matter of inordinate delay and arrange immediate payment of the sum to my bank.

Applied for loan against policy. More than month gone but Still not get payment. I have tried all channel to talked but not getting response. Even Nidhi Jain Daryaganj Delhi branch, disconnecting phone or holding phone long time or not picking phone after receive once. She is totally failure to customer support.Even mentioned in mail reason but replying hat i your matter. Again I replied please read attention. Then not replied even I had mail again.

Dear sir,
I would like to draw your kind consideration against my Customer No. 31374862 PolicyNo. [protected] for SBI Life-Smart Money Back Insurance

Firstly I inform you the broker PROBUS INSURANCE BROKER LTD (Code No.[protected] he sell the policy to me and say your policy is for 10 years after 3 years you can with draw the same . After make policy he will send us the 20 years Smart Money Back Policy . and say I am calling from SBI Daryaganj Branch

Now, I contect The phone no is wrong[protected]

Means your broker is cheating me

After I see the policy it will be for 20 years . So, am not intrested for the log time

So, I decided to surrender the same and I pay 5 instalments approx 1, 20, 000.00 and last month I recived the money back amount of Rs. 34900.00.

According to your policy mention if you will surrender policy SBI will deduct the 30% of amount on total value

But, Now, I surrender this policy in your Janak Puri Branch they say we pay only 30, 000.00 of surrender value

According to me we pay Rs. 1, 20, 000.00 in 5 Years and diduct the amount 30% =36, 000.00 + 34900.00 money back = 70, 900.00

Means 1, 20, 000.00 - 70900.00 = Balance amount is Rs. 49, 100.00

But Your Branch send surrender value will pay only Rs.30478.00

Why your are deduct of extra amount of Rs. 18, 622.00

Please clarify the same I am so surprising the same

The manager mr. Abhay daas. Borivali west branch of sbi life not accepting complaint in writing. Has asked me to submit complaint regarding policy matters to legal department. I went to his office on 28/12/17 at 12.47 noon. Where to give the letter next. As per irda complaint has to be given at the branch.
The complaint is regarding the surrender of the policy of my wife which she was trying from 2015 to surrender but again as expected got fedup. Now she is out of india and has asked me to surrender it. She has given me the power of attorney which again the branch manager refuses to accept saying power of attorney is not acceptable.
He says as per irda she has to be personally present in front of her.
Power of attorney can be used to file affidavits, file declarations, to sell& buy properties, to file suits, etcc — but sbi life does not recognize power of attorney.
Please help. I promise that neither me and my family will ever deal with sbi in any way. Will not even look at a bill board of sbi.

Rolland britto.

I made the same problem during the last year, but the authority has paid a deaf year on it.
When i visited your sbi, bazar branch, narasaraopet (Ap) today ie., 22/12/2017 to pay my premium in cash of rs.40000 on policy no. [protected] (Bhargavi suvanam), they have not accepted the cash. I astonished at the situation that the orgnisation is unable to accept the payment of premium when the insured is ready to pay it. I faced the same problem last year and made three complaints against the problem. But even after one year i am facing the same problem. Hence i request you to view the problem seriously and solve it without further delay enabling me to pay the premium within time.

I took loan form sbi bank. At the same time i opted for rinn raksha insurance. Form april 2017 onward my rinn raksha installment is debited from my account.in sept 2017 i receive a letter ref no.-rinn/[protected] dated 07/09/2017 regarding refund of my proposal deposit amount and unable to provide insurance cover against my rin raksh loan a/c no [protected]. After receiving your letter i personally go to the branch (Code 2419) to discuss the matter with the bank representative and concern sbi life personnel. Bank personnel help me and contact the sbi life personnel. He came and talk to me. He said that he is busy with some work and will resolve the issue within 7 days. After 7 days i again meet him and discuss the matter with sbi life personnel. He again said me to contact after 7 days. I again contact him on mob no-[protected]. He said that he is looking into the matter and will call me back after discussing with the higher authorities. But till date the matter is not solved. I request him to apply afresh for rin raksha loan but all in vain. He is assuring me again and again but there is no progress in the matter.
My rin raksha loan account neither closed nor my monthly installment is stopped. The monthly installment of rin raksha loan amount rs1100/- was deducted on0 5/10/2017 and 05/11/2017. It simple means that the sbi personnel is playing tactic with me.
I think it is not a professional behavior on the part of sbi life personnel.
Please look into the matter and order the needful so that my rin raksha loan account can be revived.
I email in this regard on 14/11/2017 to [protected]@sbi.co.in. The reply send to me just mentioned that your policy is not in force and contact to the branch. If the branch official listen to me why i email to sbi. And if my policy is not in force why the installment is debited form my account and where this debited amount is going?
Please help

I surrendered my staff insurance policy at sbi life centre at sec 16 faridabad.. Giving all necessary documents alongwith original policy. A lady at tge counter received it and verified it.ac in which the credit was to b afforded was mentioned as [protected] maintained at fbd main branch a cancelled cheque was also enclosed. It has been more than 20 days nothing has been credited ti my account. On enquiring from that lady i was told that tge money has been credited... After few hours she told that it was failed txn and money will b credited in 3..4 days. Today on 12 dec she again tild me wht was told a week earlier that money has been credited and told a different a/c no. Which doesnt exist in sbi. I demand an enquiry in the whole episode and failed working of sbi life.

I have a policy no.[protected]. The premium paid through my salary a/c in sbt, thodupuzha. But after merging sbt with sbi the cutting stopped with out any information. Then i renewed the cutting form and paid the dues through cheque. There after also the cutting remain ineffective and became due for 3 months. Then i arrange dd for payment and again submit the cutting form. It is very difficult to follow the premium payment like this. Please solve this problem.

Dear sir,

Good afternoon to you from kuwait.

My interest was to help a guy by enrolling into sbi wealth builder fund.

I had submitted the application in the name of my wife.

Pan card, adhaar card and the statement of accounts of my bank in india was provided along with the application.

It is very strange that the manager at sbi life wants my overseas bank statement to prove that i am capable of payment of rs.40, 000/- in the name of my wife annually. I have already paid rs.40, 000/- being the first premium.

I have refused to give me overseas bank statement.

The guy who wrote to me did not give me his name did not give me his name but the e mail id is sbil.[protected]@sbi-life.com

The tone and tenor of the e mail that i received from them implies that they have considered me to be a beggar not knowing how to support my family.

I could not stand the insult and rebuke.

I decided to present the case here.

Hope i will receive an answer.

With thanks and best regards,

Sreekumar a nair
Kuwait
[protected]
[protected]@ymail.com, sreekumar. [protected]@gmail.com

Sir i was submitted surrender document of my swarna ganga policy at sbi life office silchar assam on 27/10/17.
Till now i didnot get my refund
Policy no. [protected]
Customer id 35810470
Pf no. 943410t
Mobile no. [protected]
Email id - [protected]@gmail.com
I have complain so many time in customer care but still my problem is not solved
Pls short my problem as earliest possible

I wanted to deposit the policy number 1b[protected] dated 25th september at thane unit. The premium was rs.39343/- but we never know that the present premium is now rs.39, 487/-. Hence i could not deposit it. I have to visit another day with another cheque wasting time and money.
Why not the sbi - life inform the customers through mail or sms the exact amount? Or let sbi - life declare that all the customers must carry blank ckeque and to be filled up whatever the counter clerk says.
There should be software to install so that the customers must be informed automatically in well advance.
Thanking you

Sir,
I had alreadey deposited my all supportive document regarding surrendring of sbi life swarna ganga plan at about 30 days ago in sbi life office yamuna nagar by hand but my insurence surrendering amount is not received by me in my account at the time i have face financial problem so plese refund my above amount as pssible.

Your ravindra kumar singh s/o surendra singh
Master policy no-[protected]
Cistomer id[protected]
Coi no-11019
Mobile no - [protected]
E-mail [protected]@gmail.com
Force no[protected]

I have purchased above policy. With regret to write that i was not informed regarding allocation charges when i knew from policy received to me very late i. E. End of april, that charges for 2nd years/ it is 9% and from 2nd year on wards decreases likes 6.5% 6.5% 6%.... I have contacted to shri k v barotcif no[protected]. He replied me that i quote his word ""i am a branc manager of sbi dhoraji not employee of sbi life ins co ltd. Hence i donot know anything you may contact sbi life toll free. You may see in your applicaiton form i have not signed in any where in application form, also you may contact to bhavin dholakiya he has filled your form and signed, you forgot that your own requiremnt you have purchased the policy, and i am not involved. And i need not to have knowledge of allocation charges and any other charges applied, you may not purchase the policy of sbi life in future""" i told that in policy i have read soucing branch sbi navagadh... So should i go to navagdh branch. He told me that traget of sbi navagadh branch was not fulfilled hence it may be that sbi life insurance co has put the name of that branch, you may contact sbi navagadh or any where in sbi life authority, and donot ask me by now. When i have requested that you please ammend my nominee's name entered by you is not correct it should be mrs kanakben k bagdai. He replied that that is not his business to ammend it i should go to sbi life and tell them every thing ammend name charges what so ever.

Sir really i am not satisfied with your allocation charges colledted without informed me and shri k v barot told me that he has not signed in applicaiton form. I request you that i want to change my plan in any plan where you suggest or i have no other option to complaint to irda and other higher authoriy
With regards
Vivek kiritkumars bagdai
[protected]