SBI Life Insurance — sbi life insurance smart money back policy

Address:	New Delhi, Delhi, 110018
Website:	consumercomplaints.in

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