Shiram Life Insurance Company — Fraud of Shriram Life Insurance Company Limited

Address: Mysore, Karnataka

Dear sir/madam, This is Nitesh V Sriram life Insurance - Advisor From - MysoreThis email is sending behalf of my client Mrs. Sarala Carriappa because they are in Coorg they dont have access to internet.Ploicy holder's Sarala CarriappaWho has invested 50 thousand per year they have invested for three years but what happened after three years they got a call from company saying that we can not hold your policy further and we are sending the cheque to your address but my client told them that they don't want money right now asked them to hold the policy for some more years but company has sent them the cheque of rupees 88.000 for investment of 150000 either the client asked for refund or filled any claim document.So where should they go and ask for justice about this about this fraud which company has done to them is that they don't have any regulations from IRDA or RBI? When we ask for this they respond that IRDA has made this changes. If company can take decision by own let them invest there own money, why they need business from advisor, when if advisor ask about this they tell us we don't know anything about this you only handle the case is that's not an advisor duty to give justice for there clients, why trouble to an advisor to make business Thanks and regardsNitesh [protected]@gmail.comFirst i will start with product training. I have not been under any training from Sriram Life Insurance Company, i have got trained from only branch manager aboutthe insurance schemes of Sriram Life Insurance Company, what they have told to me and client's is that you have to payonly one premiume further you will not have to pay if you can't pay it's just like a mutual fund's, only the issue is youwill not be covered of benefit of insurance whatever the funds you have invested it will grown as per market movement.Then after three years all of my clients have got the cheque saying auto surrender and got the cheque of only around 5% to8% of their investment. When i asked to branch manager he told that IRDA has changed the policy like this, now my clientsare asking me to refund the remaining amount which company has charged or frauded me, now when i asked to the branchmanager (Upendra Kumar Naik, Mysore Branch) about this he is saying that i dont know anything about that i have left thejob, now where should i go and ask for, when i called to customer care they will responce like they are not belong to thecompany, so where should i go now and ask for justice the clear thing is that Sriram Life Insurance Company has not givenme any training regarding there schemes at all, i have also asked to branch manager for the same he responded whatever ihave told you about the scheme is correct and company has also given me the product training as i have trained you.Second issue - The policy document should be delivered to client within 5 days of policy commencement but what happenedwith Sriram Life Insurance company is they have sent the pocilcy documents to there own branches when client asked forpolicy documents they have delivered the documents after an month or more, the thing is that if the client has got thepolicy documents on or before the cancellation of the period atleast he/she could have cancelled straight away after goingthrough the policy conditions.In every cases of policy documents are opened by the branch employees itself when client or me asked for the document itused to be old and opened and it was out of Free look cancellation because they used to deliver only after an month ormore, if company has the delivery signature of the policy documents of the insurance holder then please provide me so thati can inform my clients about this issue.