[Resolved]  SBI Life Insurance — The policy was not explained properly and also wrong information given without our knowledge

Address:Chennai, Tamil Nadu, 600040

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
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Complaint marked as Resolved 
State Bank of India [SBI] customer support has been notified about the posted complaint.
Verified Support
Mar 14, 2016
State Bank of India [SBI] Customer Care's response
Dear Customer,

As per discussion with our official, we have registered your complaint.
We are looking into the matter and shall update you shortly.

Thanks & Regards,
SBI Life - Customer Care.
Verified Support
Mar 31, 2016
State Bank of India [SBI] Customer Care's response
Dear Customer,

Your issue has been attended to and accordingly we have sent a letter containing detailed reply to your registered address on 28th March 2016 vide speedpost consignment number EM[protected]IN.
For any further assistance you may write to us at [protected]@sbilife.co.in. We will be glad to assist you.

Thanks & Regards,
SBI Life - Customer Care.
Aug 13, 2016
Updated by Sathyabama Kumanan
We don't have any hope in the product of Shubh Nivesh of Sbi life insurance because no proper agents they run away after they get their commission amount giving all false details about us the bank supports these fraud staffs in spite of the customers who pays their valuable money they have rules to save themselves but no favor for the customers, they don't bother about the customers after getting money they manage to loot the money and say hundred reasons to prove that they are loyal but the fact is a big cheating is going on unlimitedly because no one warns us after they are being fooled no justice is rendered to the customers in any way you can throw your money in the dustbin than to put insurance in Sbi life insurance it gives no assurance, govt should take action of these burglars but they easily close the file and give a comment as resolved but no courtesy they have but these people who earn like this their money won't last for them. I will take this to the consumer court. They pay no attention to us.
Complaint comments 


The complaint has not yet been resolved but it is marked as resolved very bad service of Sbi life insurance still we are writing letters to a few offices but still our problem has not been solved. How is it possible for these to write the problem as resolved, totally a fraud group like chit companies.its a great disguise to State bank of India name.

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