Relinace insurane
Tarun Sheth
(Querist) 30 November 2014
This query is : Resolved
Dear Sir
I was sold 2 single premium insurance policies from form Reliance Insurance by his marketing man on 30/3/2010. One in my name and another in my wife's name. These polices were for minimum 3 years before they can be redeemed.
But the selling officer for his benefit changed them to term police. When the policies were delivered, but I could not see them within 15 days period, as we were in USA. Besides I trusted him as he was quite sweet talker and was an employee of the company.
After 3 years were over I tried to know the value of our investments in my policies, and I was informed by he company that the policies are lapsed. On inquiry, I was informed that it was due to non payment of terms for both the policies.
I checked the policy documents and realized that they had issued the term policies instead of single premium policies.
I asked the company that, if these policies were terms policies, then why the premium notices for both policies were not server every year for all the 3 years.
Besides, when policies were lapsed, why we were not served notice for lapse? Why were not given an opportunity to revive them?
The company never replied any of my emails, the employee who took my policies, told me that he is with company, but now serving in different city, and can not help me.
One fine day company send the fund to our account without informing us,deducting approximately Rs. 12000/- for our investments.
There was complete lake of service providing from the company by not sending proper timely advise for payment of premium,and lapse of policies.
Over and above they refused personal meeting and paid up the amount after deducting amounts without any consent of ours and without following their laid down procedure which they are suppose. follow.
I believe that the company has taken us for granted, and my complain to IRDA did not bring any result.
To complain in Abasement, I need a help of such lawyer who can help me and charge the fee to the company.
I am sure that I will win the case along with damage to be paid to me and big fee and prestige to the lawyer.
I well come advice form your esteemed organization at an earliest.
Thanking You and awaiting your help soon, before this becomes a time bared case.
Tarun Sheth
Devajyoti Barman
(Expert) 30 November 2014
You can file case in the consumer forum for the desired results.
Rajendra K Goyal
(Expert) 30 November 2014
Better file the case in the distt. consumer forum.
Kumar Doab
(Expert) 30 November 2014
Did you sign blank proposal form?
Is their any overwriting /forged signature on correction if any on column of term?
Was the policy delivered at the address given by you in your absence?
Did you react immediately on seeing the policy document on reaching India say within 15 days?
Did you record the calls/meeting with employee during which he admit that changes were made?
You have to find some loopholes before you agitate!
Certainly your lawyer can help you to do so.
You may go thru regulation :::: "Protection of Policyholders Interest " on IRDA website..
R.K Nanda
(Expert) 01 December 2014
file consumer complaint in CF.
Priyanshu Gupta
(Expert) 01 December 2014
Please provide the terms and conditions governing your policy. After perusal of the same, further course of action if any may be suggested.
ajay sethi
(Expert) 01 December 2014
no lawyer is going to wait for results of your litigation . you have to pay fees upfront to lawyer for filing complaint before consumer forum and for appearing on your behalf in consumer forum .
ajay sethi
(Expert) 01 December 2014
you have to read terms of your policy . you dont scrutinize terms of your policy for period of 3 years and complain after policy has lapsed .
T. Kalaiselvan, Advocate
(Expert) 05 December 2014
As well advised by expert Mr. Ajay Sethi, you cannot expect your lawyer to handle your case but take the fee from the company after having won it for you, this is ridiculous, you cannot have a bargain this way with any advocate. You can avail the services of a lawyer upon payment of his fees.
