Tata AIA Life — Unethical practices and going back on commitments

sdrao302

from Nellore, Andhra Pradesh

Address:	Hyderabad, Andhra Pradesh
Website:	TATAAIA.com

I am srinivas rao d. Adviser/life planner from tataaia. They (The management) encouraged us in jan-mar 2017 for doing more business, they had shown us extra benefits in cash /cards/commission and professional development allowance (Pda) — after we completed the business, they announced in april 2017 that the pda will not be paid for the business upto march 2017. The business value also lapses by making the goal-sheet zero. They are not allowing us to take back policies that we submitted as free look period is closed. How a new rule can impact old commissions that are committed. When we try to escalate the matter, the begumpet management is not allowing to escalate it further ad suppressing the information, and dividing the life planners by alluring them with different benefits. I expect tata aia to be ethical and fulfill all the commitments that are promised us at the time of policy submissions. I am attaching a mail also with this complaint (Please change the format from jpg to pdf for reading it)

Was this information helpful?

No (0)

Yes (0)

Tata AIA Life customer support has been notified about the posted complaint.

Jun 21, 2017

Updated by sdrao302 The mail I sent to Hyderabad Maangement(Akmal Basha, Murali Poosa, Prashant THota, Sanjay Kumar, Shyam Prasad[protected]
Dear Mr.Akmal,
Post to Mr.Shailaditya’s meeting/LPs Roadmap meeting held on 8th June 2017, please find below the representation on behalf of the Life Planners(LPs) for the reimbursement of PDAs (Professional Development Allowance) for the business done up to 31st March 2017.Please escalate as required and help us in resolution.

During Jan/Feb/March 2017, all the LPs were doing the business aggressively as we were told that we can reach/exceed our PDAs target. We were even given the calculations through various messages/promos/oral commitments. Based on which Policies were submitted by us (thinking that we will be paid INR 6000/- month – for number of months as per the EP (Eligible Premium))

For example, I did INR 2, 60, 000/ EP, that is sufficient for my three months PDA (INR 6, 000*3=INR 18, 000). If any month inactive- INR 500 will be deducted from INR6000.

However, In April 2017, LP Road Map Presentation, we were told that there are some changes of rules. All the business done up to March is Lapsed (EP is not transferred to next Financial Year- April 2017-Mar 2018) and new ‘’goal sheet’’ provided etc... However, we thought that the PDA will be paid as the rules applied to the Contract (insurance Policy and the PDA) fall in previous financial year up to 31st March 2017.However, we received just 5500 recently and were told that we do not receive PDA fo additional business done up to 31st March .How can TATA AIA impacts backdated payments by introducing a new rule in April?

We had various meetings in May 2017(23rd and 24th) with Mr.Shyam/Mr.Akmal/Mr. Murali and you all agreed to escalate the issue for a resolution .Again we had a meeting (Larger group of 70+) with Mr Shailaditya on 8th June 2017. He also agreed to take the lead and will try to resolve the issue within 15 days.

Since Policy submissions are pursued with the additional benefits, so both (Policy and other benefits promised)are tied together. We are told that past submitted Insurance policies cannot be taken back as ‘’free look period is complete . PDA payment is also not given. Anyway impacting our benefits. It is unethical and going back on promises that were made. If there is a policy change it should not be done to impact the backdated transactions.

Appreciate your help in this regard. It has been delayed a lot and we are looking forward for an early resolution of payments promised in PDAs for the business upto 31st March 2017

Thanks