Reliance Life Insurance - FRAUDS BEING COMMITTED BY AGENTS IN SELLING RELIANCE LIFE INSURANCE
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Complaint by: SAM THOMAS on December 14, 2013, 11:41 pm in Insurance All

I have been made a victim of the insurance frauds by different agents by promising certain amount for which I was made to pay different amounts for release of the funds promised by different agents. to give a brief gist of what has transpired between August 2012 to October 2013. I have been made to buy a total of ELEVEN policies of Reliance life. The details of the policies are as given in the table

RELIANCE LIFE INSURANCE CO LTD-CLIENT ID ********/ ********/********

S.NOS CONTRACT NO. PREMIUM AMOUNT DATE / PREMIUM DUE PURCHASED ON
1 50296477 18773.00 06.08.2013 06-Aug-12
2 50296480 18773.00 06.08.2013 06-Aug-12
3 50467462 21729.00 20.10.2013 20-Oct-12
4 50467469 21729.00 20.10.2013 20-Oct-12
5 50634272 42053.00 31.12.2013 31-Dec-12
6 5 1057116 49248.00 25.06.2014 25-Jun-13
7 51125809 29426.00 03.08.2014 03-Aug-13
8 51178960 29426.00 27.09.2014 27-Sep-13
9 51211392 38809.00 17.09.2014 17-Sep-13
10 51265662 43410.00 12.10.2014 12-Oct-13
11 51276473 54862.00 24.10.2014 24-Oct-13
Total premium 368238.00
AGENT CODE 21222769 INDIA INFOLINE INSURANCE BROKER LTD
AGENT CODE 21384520 A.B. CAPITAL
AGENT CODE 21739049 RDB INSURANCE BROKING SERVICES PVT LTD
AGENT CODE Netambit Insurance Brokers India Ltd

ICICI PRUDENTIAL LIFE INSURANCE - GUARANTEED SAVING INSURANCE PLAN

S.NOS POLICY NO PREMIUM AMOUNT DATE / PREMIUM DUE PURCHASED ON
1 16635924 19400.00 8.5.2014 08-May-12
2 17183392 29100.00 24.11.2013 21-Nov-12
3 17492454 38800.00 21.2.2014 21-Feb-13
4 17517481 48500.00 27.2.2014 27-Feb-13
Total premium 135800.00

Names of few agents who had contacted me between Aug 2012 and Oct 2013 and made me buy the above policies

Initially in 2012 Rajiv Gaikwad ********48, Amit Goyal ********15, Akhilesh Agarwal ********79, Ajay Bansal ********86, Rajiv Agarwal ********10 Shukla ********03. Then in 2013 Sarika Gupta ********87 & ********87, Vivek Ahluwalia ********57, Madhu 01409803846, Ranjan Roy ********14, 01409300581 & 382, AP Sharma ********97, Deepak Malhotra ********37, Vishal Bharadwaj 01409803845. I would very much like to see these personalities mentioned above put behind bars so that they do not make another victim out of the many people who are out there in the country. Just to earn some commission from the Company they are duping the people of their hard earned money. I am planing to lodge an FIR against these persons. How much Policy does a person require? These idiots made a fool out of me and duped me to a tune of nearly Rs. 5,oo,ooo/s. One does not take ELEVEN policies.

I would like to know how these people get to view the policies acquired by various people on net. The Reliance Life Insurance Company should seriously look into the matter a stop these frauds by different agents. I have been made a victim when I was in dire need of funds and these people have made me invest in these policies which I will not be able to pay in future as I would retire in Feb 2014. These policies may lapse when I will not be able to pay the premium for them. I would be very grateful to the Reliance Life Insurance Co. if they can return my hard earned money. I would also suggest that the Insurance Companies should stop paying commission to the agents. They should give them some monetary benefit when they get some genuine clients. The above named persons should be made accountable for the frauds they have committed during the said period.


SAM THOMAS MATHEW
VICTIM OF FRAUD
PHONE ********57

Complainant's Goal: I WANT THE MONEY BACK which was FRAUDULENTLY acquired from me.
Complainant's Target: Reliance Life Insurance
Complaint Location: IndiaDelhiNew Delhi
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Recent Comments
2.
Wed, 18 Dec 2013  Reliance Life Insurance

Dear Mr. Mathew,

We sincerely regret the inconvenience caused. Further to your telephonic conversation with our service representative, we will get back to you shortly with a resolution.

Regards,
Reliance Life Insurance Team

1.
Mon, 16 Dec 2013 - Business Reply from - ICICI Prudential Life (Reliance Life Insurance)

Dear Mr. Mathew,

We regret the inconvenience caused. Our representative will get in touch with you in the next 4 hours to assist you with your concern.

We appreciate your patience.

Regards,
ICICI Prudential Life Insurance