Shriram Life Insurance — policy cancellation and fraud escalation in shriram life, insurance, santhome branch chennai

Sep 04, 2017

Updated by LogeshGuna I dropped mail to atul sharma, Vice President of Shriram life insurance but reponse from them,
Also dropped mail to grievance.[protected]@shriramlife.in, [protected]@shriramlife.in, gr.[protected]@shriramlife.in, atul.[protected]@shriramlife.in but no response form any of them.

Below is the mail.

Hi Sharma,

I am Logeswaran, working in HCL Technologies Chennai. Since Shriram promise to give loan for minimum interest when i take policy so i have taken the policy in Shriram but when i realized its false promise and I tired to cancel the policy, I was not able to do it. Employee/Manager in Shriram, Santhome branch and Customer care saying it is not possible to cancel it. So am approaching you for cancelling my policy and chance of getting some % of installment i paid out of Rs. 1, 00, 000/-.

Main reason for approaching you is there is big fraud happening in Santhome Branch. The guy named (Vinoth Kumar) who canvass me in Santhome branch for this policy, he says that he is the Manager of Shriram Life Insurance for Santhome branch but when I again approached Shriram Santhome Branch after 5 months policy taken they told that guy(VinothKumar) is the Agent not a Shriram Branch Manager. Here is big issue happen to me i hope many people would have lost their money because of this. My financial problem by losing this 1 lakh and my big depression for long days and sending this mail to you today.

Policy number : NN[protected]
Proposal number :[protected]
Customer id : L[protected]. I have attached the policy in this mail. PFA. I have attached the VinothKumar Signature when the time of paying money he given the Shriram form.

Here i am explaining how i get into this and betrayed and fooled. Understand my situation as 1 lakh of money of my saving i applied policy in Shriram but now am betrayed and depressed by Shriram Life Insurance and feeling irritated that why i trusted and choosen this.

I came from middle class family and i have saved 1 lakh money by 3 years of my saving which planned for my marriage and sister marriage purpose in future. As per internet review the best place to take/put insurance is only in Shriram as google & friends, family member says Shriram is good and am also believed in that. So I approached the Shriram Life Insurance in Santhome Branch, Chennai on February 6th 2016 and I met a guy named Vinoth Kumar(Phone number of him : [protected]) inside the Shriram insurance building, 3rd floor, right side wing when we come out of elevator. He told he is the manager in Shriram Insurance, Santhome branch and he explains details about some policies and Shriram Life Assured Income Plus policy saying that once we take this policy, Shriram will provide you loan of (10x times of policy installment) that also with minimum interest of 10%. He said once I take this policy loan will be provided within 3 to 6 months . This much time taking because loan will be approved by him and through Shriram policy. He said we can cancel this policy anytime and i can get the money back. Since he is the manager he will take care everything he told and he canvass me to take that policy. He asked, tell to the customer call that you are applying policy for tax benefit not for loan in the call conformation in Shriram because am the manager i can able to get loan for you its my responsibility so dont say. So i did the same in recorded call i said like that. What else i can do if manager saying like this means.

Believing that also he told he is the manager in Shriram Insurance, Santhome brnach, I believed him and taken a policy paying the installment of Rs.1, 00, 000 in the Santhome branch at 15th February 2016 by paying hot cash to him in the Santhome branch itself. On 25th - 26th February 2016 around i got my policy by courier to my native address. Then i applied loan by giving photocopy of bank statement, payslip, pan card, licence, passport, Company HR letter to him. After that Twice in a week he himself calls me and says the document is processing and its in higher level and this level for sure you will get loan. This was continue till 5 months.

After that i approached the Shriram Santhome branch for the loan processing. There employee saying VinothKumar is a agent and he is not manager. That time i was frustrated and i couldn't able to react in that moment and i called him many time from the branch itself he didn't picked up and i explained everything there to M.S Rama, she is the manager for Santhome branch she said and she given her mail id ([protected]@sfps.biz) and phone number([protected] /[protected] to me for asking more info anytime. I went to depression, she says that i was cheated by VinothKumar. I asked Vinoth Kumar address she told its not official thing.
I fight with the lady and senior person in the Branch and questioned that how come the guy telling he is Shriram manager by sitting inside in the building at your place now you are telling he is agent? She told before August 2016 we allow agent to our building but after that we stopped because of some issues she told. When i asked for cancelling policy, they are threatening me saying there is no option nothing can do anything here. I was betrayed by Shriram, Santhome branch and not able to get the money back by cancellation this policy. since VinothKumar said policy can be cancelled at anytime but now Rama saying with 15days we have to do that if not, it waste like that.

I not able to find that guy VinothKumar

I am in depression for long days that i lost my valuable 1 lakh amount by trusting Shriram life insurance. Now my friend helped me by explainin this excalation matrix to inform this incident to higher offical to get the money back by cancelling this policy. I hope i will get my money back atleast some % to help my family for the satisfaction.

Hope this mail and details of how am betrayed and depressed now you can understand. This is the truth and requesting you to approve for cancelling my policy to get my money. i knew its a long time i was not dropped mail because of depression. Whenever i think that am lost 1 lakh money by Shriram, i am not able to do anyother work also much tensed and frustrated.

Even if you are also not able to do anything please forward this to higher offical by going as legal for this betrayal of Shriram and also for not maintaining good organizaational structure like anyone can say Shriram Manager as happen to me that too siting inside Shriram Life insurance building.

Thanks again!! Hope you will do the best !

Thanks & Regards,
Logesh