Metlife_insurance_policy_mis - selling

Querist : Anonymous (Querist) 20 December 2011 This query is : Resolved
MY CASE :

I purchased a metlife policy that got sourced through Axis Bank. I mean to say that I went to the axis bank premises and they issued me a metlife policy. I interacted with two persons on that day , one was the metlife policy expert and second was the axis bank employe and what i asked them that i need a policy which would exempt me from tax benefit and i should be able to withdraw the money after three years. they made me sign all the documents which included ecs also. this was an annual premium of 70000 rs. i paid for two years making my money equal to 140000 inr. now two months back i got to know that the first premium is a an allocation charge and if i dare to withdraw my money after three years i would not get the first 70000 rs unless i continue this policy till 10 years. i have exchanged over 100 mails with axis bank and metlife people and metlife also tried to give me a 20 % compensation which i didn't accept. metlife people never made a welcome call to me describing the features at the start and they are counter attacking me that i have signed the documents. though they have admitted on phone that this was wrongly mis-selled to me and if i enquire about that metlife product expert , they simmply say that the guy has been transfeerde. I also told them that i don't want to continue this policy on mail too then after yesterday that is 19 dec 2011 they debited an amount of 70000 rs from my account though i argued with them and metlife returned the money back to my account.

I need your suggestion that how can i take my money back from metlfe. alsi when contacted with axis bank they also didn't give a satisfactory reply stating that i have to contact metlife people though this policy got siurced through axis bank. now how to make axis bank come in loop..

Due to above all reasons i am in a deep mental pain from both the parties ( metlife and axis bank )

Kindly advise

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Shonee Kapoor (Expert) 20 December 2011
You have been cheated, plain and simple. They gave you a written policy with long list of terms and conditions.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

PS: Always read carefully before signing anything

Querist : Anonymous (Querist) 20 December 2011
Thanks Shonee

What actions can I take against them. How can the law help me in this.How do I deal with this.

ashutosh mishra (Expert) 20 December 2011
Consult a local lawyer with all communication made so far without delay and consider filling a complaint in forum against both axis and metlife .

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