Jun 03, 2010 08:07 PM
4128 Views
I have few life insurance policies of Reliance, ICICI Pru, Max and LIC but most of the cases I found that the advisors never tell you the charges will be deducted from the premium you paid. But I found most of the cases it vary around 20 - 30% for the ist 3 year of premium payment after that it decreses to 2- 5%.
But in case of reliance for the policy no. 14914978 I have bitter experience.
For this policy I received call from Delhi land line no and they told me that they are calling from Reliance head office and they also confirm that if I do the policy they will return Rs. 7500 within 3 months and also it is a guaranteed fund in which I will receive almost double the amount if I pay the premium at least for 3 years and withdraw the amount after 5 yrs. Now when I receive the policy paper I was very surprised to find that 1st year reliance deducted 80% for allocation charges which is extremely high (till date I have lots of policies of reliance, ICICI, max etc. no where I found this much allocation charges) and also I never got call from that no for paying back Rs. 7500 as promised by them. In the policy paper my agent name is written as Vighnaharta Direct Insurance. Now if I am calling to that no it is coming as “Please check the no. you have dialed”
My policy term starts on 21.07.2009 and after almost one year my fund value is below Rs. 3000 after investing Rs. 15000. Now I have lost my all faith on Reliance Life Insurance. It is a heavy loss for me. The main problem I found that Reliance advisors all say lots of promises which they never keeps. They never discuss about the fees that will be deducted from the premium all they speak that they will double- triple the amount within no time.
I earnestly request Reliance Insurance Management please stop cheating people in this way. I have written mail to reliance insurance customer care and to the higher authority on 27th may. But till date I have not received any reply.
Can you people advice where I will go for justice?
