Aug 09, 2008 04:59 PM
9474 Views
TATA AIG Life Insurance don't have a proper grievance mechanism(as per IRDA guidlines each Insurance company should have a customer issue escalation and Handling Mechanism which is not at all followed by TATA AIG) to handle customer issues and the customer care when contacted through email also does not respond properly.
The TATA AIG Life is not properly handling ULIP policy premium and the fluctuations in the NAV of the Product sometimes lead to a huge loss in the fund value as it happened in my case. I applied for the TOP UP of 15000 on 15-july-2008 and the pending for my occupation was raised on 17-July-2008 and it was not informed to me.
When I came to know about the same after calling the customer care I submitted the relevant documents on 25-July-2008. The Company didn't processed the documents properly and it was updated in their system on 31-July-2008. Again the company took time to process for the NAV and applied the NAV of 07-Aug-2008 and this lead to a loss of 15% on my Fund Value.
