[Resolved]  SBI Life Insurance — updated: service request # 7146282: complain on sbi insurance: request # 7120314: cancellation 0f sbi - life - saral pension

Address:

600107

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