Unfortunately you are one of the gullible and hapless customers who have been exploited and fleeced by these insurance companies. The most ironical part is that you won't be having any proof of commitement is made to you by broker/company/agent. Company shall quote from the proposal from signed by you.
The copy of the proposal form signed by you is supplied as part of the policy document. You may check if your signatures have been forged anywhere on the form. Did you supply any proof of your DOB, address and did you sign on the copies?
You may take up the matter with broker and plan your questions in order so that broker states that he/she had promised that amount in scheme shall get doubled in…….years like PO scheme. You may record all transactions (audio/Visual) in the presence of witness(e). If you are resourceful you may approach influential citizens who may help you to take up the matter with this broker/company. If police complaint is perused broker/company may pay back the amounts.
Companies have refunded the premium paid to some of the customer who has perused their complaints with force. You may escalate your compliant to CEO/MD of the company and do not forget to ask for issuing the complaint number. You must try to gather some evidence and thus merit for your case.
Last option is to lodge a complaint with consumer forum. Before lodging complaint you may understand the merits from your lawyer.
