Nov 27, 2016 11:37 PM
19411 Views
Hi all,
I recently closed a worthless life insurance policy 18034 taken from Reliance Life Insurance in Oct2010(as marketed by another fraud who worked in that company in 2010 and left the company within a year). After making premium payments for 6 years(Rs.10000 6= 60,000), I thought to close it in Aug2016. When I closed it, I made a wrong assumption as I made 5 payments instead of 6. It makes me to think that Reliance people exactly know that it is hard to remember such details by the policy holders, so they can have chances of such instances and areas ‘to take advantage’. In all their communication about the closure, their fraud support team also kept mentioning that my policy closure is eligible for 100% surrender value(without giving any hint that it will be a loss for me closing for lesser money and anyway it is more profitable for them).
Even on the day of closing, they kept silent so strangely and happily closing it which made to think that there is some fraud background there. As you would have experienced about insurance companies, they will let you close once they are satisfied with their own profits. Just like I thought, Reliance frauds took advantage of the situation which I realized that after 2 weeks of the closure. When checked back stating the situation and asking them as why didnt they mention about total premiums instead of 100% surrender value(which diverts policy holders obviously). For that they came up with clever response as something irrelevant called accumulated account which they seem to have mentioned in some corner of some mail.
And when I asked to raise it with compliance dept from where one worst woman called decidedly to say the same thing. You should have heard her irritating tone of her response(like the tone that they dont care and we cant do anything about it) and when asked her to stop that irritating style of speaking, then she started speaking in normal tone. And till now, they kept saying the same thing without responding specifically about the fraud mentioning of 100% surrender value.
BEWARE OF FRAUDS IN RELIANCE LIFE INSURANCE AND SUGGEST NOT TO GO WITH THEIR PLANS OF NO PROFI AND YOU WILL LOSE YOUR CAPITAL MONEY TOO. AND BE 10 TIMES VIGILANT WHEN DEALING WITH RELIANCE FRAUD PEOPLE.
