SBI Life Insurance Complaints & Reviews

Good evening
I am complaint against sbi life insurance.
I have sbi life insurance. My policy no : [protected]. My second due to pay premium 24.06.17. When i take policy that time i submit application auto debit from my account. I received e mail from sbi dated (24.6.17), sbi can not auto debit from my account. Pay premium payment from my side. Then i paid through online dated 27.6.17, rs.150k. Same day sbi life insurance auto debit from my account again rs.150k (With out any my knowledge). Why?
I received clear e mail from sbi, they can't auto debit from my account. Then why they deduct?. Then my serious follow up with my policy agent, and branch manager, divisional manger. Finally my follow up i received money back dated 28.7.17 (After 31 days)
My request and complaint is one month sbi keep my rs.150k. They did not give any interest and any apologize letter.
If i take loan from sbi (Car or jewelry), if i am not pay on time payment, due date, they will ask penalty even one day delay. My money sbi keep 1 month, why did not pay any interest?.
I hope you will understand give me feed back
Thanks

Attached : received e mail from sbi / sbi bank statement

My name : v. Ravikumar
Policy no : [protected]
Phone no :[protected]
E mail: [protected]@gmail.com

Dear sir/. Madam,

Thank you for your email.

I have seen your clause and i know what is the terms. But nowhere it says that i cannot get back my money that i have invested... I am only asking for the amount that i have invested which is rs 60, 000.

As stated that i was forced by the then branch manager of the sbi nerkundram branch, who confused me in this investment plan, even after i have stated that i will not be able to pay this year amount.

Infact i was told that it ok even if i don't pay for 3 years let this amount be, after 3 years i can cancel the same.

As a mater of fact, i was not allowed the policy document, as it was couriered to me only after the policy was registered to me. I was asked only to sign on the application form, and wasn't allowed to read the terms, i was told that a detail document will come to me.

I have a photo copy of the application form in the document, which is not filled up by me, i was only asked to sign the document, trusting the branch manager and sbi nerkundram branch as i have been banking with them for 7 years now.

The application form was filled up by the agent himself, with his own details which he felt like filling.

He has given some company name which i never worked for and my annual income of rs 9, 00000 which was never my annual income in 2013, even the plan type was not chosen by me.

I can provide the proof of the application form which was filled up by the agent.

All branches of sbi, does this, all they want is to upsell a product, so when they get a customer who comes to them with some money or if they see that the customer has alot of money in there saving account, they confuse them and talk them in to taking up a policy like this, but telling the customer he would be getting more interest and more money later... They don't even let the customer think and take a decision, they just keep brain washing and confusing them and make them take a policy, so that their upselling target is completed.

In my case the same thing has happened. For which i have tried to speak to more 10 people in sbi life and customer service, but nobody is willing to help me out in this

All i am asking for is my invested money back rs 60, 000 and i don't want this policy, which i can't afford to pay and it makes no sense of me continuing it. I don't have financial stability for pay the 3 year premium, that why i haven't paid so far. I hope you understand my issue and help me to cancel the policy and return back my money.

Regards,
Craig. Moreyra

On wednesday, 16 august 2017 7:57 pm, sbi life wrote:

Dear sir,

Greeting from sbi life insurance!

With reference to your query, we regret to inform you that your policy is not eligible for surrender as per policy terms and conditions clause” 4.2.1.1 you may surrender the policy if you have paid 3 full policy years premium”

For further assistance, please call us at our toll free numbers[protected] am - 9 pm, 7 days a week) or write back to us at [protected]@sbilife.co.in.

We shall do our best to assist you. Please do not change the email subject while replying.

Thanks & regards
Sbi life insurance company ltd

To
Shri arijit basu sir.
Cmd, sbi - life
Mumbai.

Respected sir,
I would like to inform your good self that my client mr. Bikash kumar basu has invested rs. 30 lakh vide policy number [protected] and it is effected from 22nd june `17 on wards.
The amount of rs. 30 lakh is being debited to his bank account on 9th june`17. That means sbi - life has deprived him in getting the interest from 9th june to 21st june 1. E. For 12 days and the amount is rs.8260.74/-. I request you to be kind enough to pay him this amount of rs.8260.73/- as good will and sanctity.
Sir, we must not deprive any one from his right dues.

Thanking you
With best regards

Dr. B. Basu

I went to sbi in touch electronics city phase1 on 24-jul-17 for term plan
First of all no body has knowledge on term plan
One lady arranged call with another person his name is chandrabhushan. He explains me termplan over phone and i told asked him to meet tomorrow morning. He said he will call me tomorrow to confirm.
Next day on 25 july i didnot get any call from him.
When continuously called him on 25th / 26th / 27th but he didnot answer my call at all.
I went to the same branch again. They arranged my meeting with him after one hour to take term plan.

When i asked him why didn't you call me or answered call. He told me very rudely that "because i am not interested to sell term plan".
I told him thn you should have answered call and tell me directly i have been calling you since 4 days continuously.
He thn told me when i don't answer call tht means i am not interested and i don't want to waste time in talking. He harassed by talking to me very rudely.

No other employed stopped him in between nor any body showed up any interest to resolve. I returned back without taking term plan.

I want to know is this a personal decision of employees to decide to give term plan or it is sbi who gives this facility.

How a sbi employee talk to customer like this.
I decided i will never ever go to sbi and get close my existing account.

Respected consumer forum team!

I made a complaint against mr. T. Ganesh, sbi life business manager who cheated me my explaining an impossible maturity value over phone and trapped me into the rs.2, 07, 901/- annual premium policy.
After repeated request about the possible maturity value, i could confirm that the maturity amount will be very less than what he explained.
But by the time it was more than 30 days that i received the policy bond and the minimum return period was elapsed. So, i was stuck and requested the refund of my premium already paid. But till today, there is no action from sbi life insurance. So, please justify my role and get my hard earned money back.
Thank you team.

My name is sunil kumar unit manager 32309 in sbi life insurance in amritsar branch in our company there is a security guard name satnam he is under the security of cisb very indiscipline person and he has no attigate how to talk with customer as well as employee. Last few months back i had also complaint against him but no one take any type of action against him. He tottaly harrashed the all manager in the behalf of branch head. Please take appropriate action against him

In spite of repeated complaining and requesting, sbi life has paid a deaf ear about the refund of my premium. I was informed that rs. 11, 40, 000/- will be the maturity value at the completion of 7 years with an annual premium of rs.1, 00, 000/- per year. This is the first statement made by mr. Tangeti. Ganesh, business development manager, sbi life branch, visakhapatnam.
When i asked that i want a maturity value of rs. 25, 00, 000/- at the end of 7th year to invest the sum in state bank of india with a locking period, of 15 years so that i can get the monthly interest as the pension. As the reply, mr. T. Ganesh has suggested me to give a cheque worth rs.2, 07, 901/- as the annual premium so that the maturity value will be rs.25, 00, 000/- at the end of 7 years. He never visited my house or work place and just explaining me over phone. I requested your kindselves to verify the telephone records for the confirmation of the conversation between myself and ganesh.

There is no one who can explain about the terms and conditions of the policy that i got the subhnivesh endowment policy [protected] and about its maturity value. So, i started enquiring the reality and at last on 40th day, the sbi life executive mr. Narsimham has confirmed that any money beyond rs. 17, 50, 000/- is impossible as the maturity value. I got distressed and started writing to the sbi life higher ups. They were calling me over phone previously explaining some thing which is useless to me and asking me to pay the 2nd year premium and continue.
But as i have been cheated by ganesh about the maturity value of the policy, [protected], i made up my mind not to continue with sbi life and take the cheated maturity value of the policy.

I request your kind selves to interfere into the matter and arrange for the premium that i paid to sbi life.

Thank you sir/mdam

Mr. T. Ganesh, sbi life, double road branch, visakhapatnam, has conveyed a wrong maturity value through phone and after receiving the policy bond, he started skipping my call and by that time, the minimum time to return the policy time is over. However seriously tried to get the refund from sbi life, till date, nothing has come to the reality. So, i request the consumer forum to intervene into the matter and do justice to me at the earliest. I didn't pay the second premium while i was complaining about the fraud continuously to sbi life.

My policy number is [protected] and name is 'tadepalli srinivasarao' with date of birth 26/05/1969.

Dear sir/mam. I am sunil kumar doing a job in sbi life insurance as a unit manager. Emp code is 32309. Recently i was ill and send leave letter to my branch head amritsar branch through my father. But bm not receive that letter. After that i request to regional hr for leave. But she told me to gave medical certificate i send my medical certificate to my branch operations department. But my bm refuse to send this letter to hr and told to operation department that convey message to sunil that he has to send medical own way. I send it to hr from personal mail. Firstly hr refuse to accept medical after that told me that ur medical certificate was not satisfactory and your salary was deducted.. Company gave 30 leave in every year i take nothing. Now questions is that how hr deduct my salary plz help me

Policy No.- [protected]
I took policy from sbi life in oct 2012. I paid every premium of my policy on time with getting failed. When i took policy i was promised that pay rs 30000 every year for five years i.e. rs 150000 and i will get rs 215000(approx) on maturity of policy. But after maturity on 6th January 2017 i was paid only rs. 139311. We work hard to earn and save money. But its look like my all money go in vain. Kindly look into this matter

Dear sir,
I have one policy of SBI Life through State Bank of India Branch-.No03361, Bakhira Sant Kabir Nagar-272199 UP

This Policy premium deducted through ECS My SBI Bank SB Account No: [protected]. In continuation since 2015 to every year Premium Amount Rs.523/-Direct Deducted. But i have not received the Policy Number, Policy Bond and Premium Receipt till today. so i request you to send it as soon as possible to my address as well as to my email...

Recent deduction: 07-Feb-2017, TO TRANSFER INB [protected], Ref No. CMP[protected]CO30412611 amount Rs.524

Ashok Kumar
Email ID: online_ashok @rediffmail.com

Mr. KIRAN KRISHNARAO SUTAR
Submit a Complaint
Sir,
I have paid Sbi premium for policy no 1N[protected]dated 21 Oct 2016, rs.33, 536.00/- through www.sbilifeinsurance.com, but i do not recived any recipt till date and time. Rs.33, 536/- debited from my account on same time. Trans no.HSBI[protected]IGAACZVOD6 showing in my SBI account no.
" sir/madem

Please confirm and reply that this payment received by an Sbi life insurance and send receipt at my mail id.

Sir
I have paid the premium against my policy no-[protected] of rs, 39543.00 n the month of june 2010.in spite of repeated request to the bank i am not getting the money receipt. it is urgently require for submitting to my employer to calculate the it rebate. pls arrange to send the same to my mailing address and soft copy to my mail:[protected]@gmail.com
Thanks and regards
Padmalalitha

My husband was expired on 25/05/2015, he had taken above home policy, We have been informed that death claim settled and claim amount of Rs. 323466- and Rs. 129210- was released on 26/11/21015 under cheque no. 108980 and cheque no. 101754.

2. But the amount of cheque has not paid to home loan account yet, despite lapses of six month, repeat six month. why ?

3. please be inform, why this happened ?

Maya Kanaujia

Very poor service from sbi life.
Their policies are being sold by unauthorized personnel. One mr. Aman khan goes (Mob #[protected] &[protected] around selling policy on behalf of another agent bundled with all false promises of returns and health covers.
I complained about it to sbi life customer care on 9 march 16 but no action was taken for almost a month. It was only when i tweeted about my complaint that i received an email, which said that i had to submit certain documents to the sbi life branch.
I submitted all documents on 28 march 16 in the gurgaon branch and also received an acknowledgement for the same.
Even after almost 1 month of waiting i have not received my refund. On the contrary when i call the customer care i find that they have not received and instructions to cancel or refund the amount.
On top of this, i receive general response (E.G. " we will get back to you soon etc" ) to my tweets to sbi life on twitter,
Very bad experience with sbi life. I will not suggest anyone to go forward with any of their policies.
Policy no. 1n[protected]
Complaint no. 5390338

I have paid 2nd premium through online againt my policy no- 1n[protected] of rs 30424 on 1st of april, 2016 .Inspite of repeated request to the customer care i am not getting the receipt. It is urgent require for submitting to my employer to calculate the it rebate. Please arrange the same to my mailing address and soft copy to my mail : [protected]@gmail.com

Let me know in case anything more info is required.

Thanks & regards,
Saurabh kumar

I am vinod kripa k. Who is the policy holder with customer id 38712009 and i took a policy in sbi life insurance, policy no is[protected], proposal no is 35qk779954 proposal date is 30.03.2015 product name is sbi life - shubh nivesh for premium amount 99, 985/- on 30/03/2015. I went to sixth avenue branch, anna nagar, chennai 600040 to open an account where i was recommended this product by the branch manager who denies he himself know nothing about the details but he told it was a good savings plan for he gets commision if he sells this product and i relied since it was from sbi bank and the agent prasath whose mboile no is ([protected]) was called and he at once came and gave a form but did not explain anything and told that was the last date and asked me to sign and i gave the details to be filled and signed and he himself filled the form, he told that we would get a printed copy, but when we received the printed copy and went through all the informations were wrong my salary annual income i gave was only 300000/- but it was given as 700000/- and also tells my sourcing bank is sbi vepery, chennai instead of sbi sixth avenue anna nagar west chennai - 600040 and the facilitator is sethu muruga durai whom i don't know at all and is no way connected to the bank of sixth avenue and also given false statements which are the important one for me and also my my email id which i gave is also not provided in the document so i called prasath my agent who filled my forms and gave a letter to change my salary amount but he took the letter and did not do anything and time went away and now he has left the job. What a miserable condition whom can i contact and i feel insecure and i also want to get back my money i will surrender my policy i don't have any hope on sbi, for such a good nationalized bank to allow and appoint unstable staffs to promote their products in an irresponsible manner and cheat public peoples money so easily using the banner of sbi, i want my money back and if this issue is not responded i want to take this to the consumer court for me to get my money for which i have worked hard and invested i also want justice. So pls. Do the needs and also any more for god's sake don't fool any customer who relies in sbi like this any more my amount is a huge one for me so pls. Do the needs for me to get back my money. Thank you. Vinod kripa k.

My policy no is [protected] product name is "Shubh Nivesh", and I have invested rs.23, 536- since the bank manager told it was a very nice policy to invest so we relied on him and accepted, he called the agent Prasath and he came to the bank itself and gave us the form but did not explain the policy well but in general he told a few and noted my details in a form which was a rough one and told me to sign the policy so I signed but later when the printed copy came we found as my salary income was written as 600000/- while I am a housewife and my spouse income is only 2.50000/- and also it tells that my husband is holding a lic policy no 7338203H for a value of rs. 500000/- which is a false information and our sourcing bank is typed as SBI Vaniyambadi Town instead of SBI sixth avenue by a person Kalaiselvan.K(CIFCode[protected] who is no way connected with my policy to give such false informations and I gave a letter to change all the false details to the agent Prasath but no changes were made and no proper response or communication and I think he left and the bank manager tells us to go and see in the SBI life insurance office for he himself doesn't know anything but blindly he recommended us along with this policy my son Vinod Kripa K also invested rs. 99, 985/- in the same product his policy no is [protected] and again the same problem his salary is mentioned as 700000/- instead of 300000/- and also the sourcing bank as SBI Vepery instead of sixth Avenue Anna nagar now We lost hope of SBI to appoint or give support to such an irresponsible staffs who just cheat using the bank name as assurance. Now I want to surrender my policy being such a huge amount for me I don't have any assurance to continue so pls. guide me for the next step for I have no one to respond to get back my money and I am also thinking to go to the consumer court against SBIlife insurance to get back my money rs. 1, 23, 521/- on a whole for both policies if no justice is rendered from SBI life insurance Thank you
Sathyabama Kumanan

Policy no., [protected]. "shub nivesh". Paying fully 5 annual instalments rs.175525, i was offered with only rs.136961 only. With the conversation over the phone on 26 — 2-2016 evening, i was informed that the remaining amount will be returned as 150000, after my 100th year. This information was not given to me when they canvassed the policy. At this juncture, i am running out of financial strength also in a critical situation of paying my daughter"s college fees. I planned only this investment even 5 years ago. I am also going to retire within this year without a single paise as pension. Hence i want to withdraw the whole life plan coverage and give me the money back. There is no other go for me. Please don"t make me an educated beggar. Hope to get a favourable reply soon. Thanks.,

Dear sir i started from beginning in may-june 2013 my daughter was preparing for her further study in abroad. that time i have some funds in my SBI account and i paid my daughter education fees left some good bal in my account. After paying fees he approach me to invest some money in SBI life and he get some bank voucher signed and kept himself. i dont know what type of vouvher they are, suddenly on 10/07/2013 i was busy at regional passport office dehradun for my daughter passport at 18.30hrs. he phoned me my mobile then telling me that he took out money from my account. i told him dont do that when came back home i will pay him but he did it at his own. then he take my money without my consent and issued the time lock policy to me. later i realize the installment for policy was 100000.00 yearly which one i cannot afford. please help me out from this mess up and assist me to get my money refund.