Birla Sun Life - MIS-SOLD Policy 005545016 And Cheated by Birla Sun Life/ Bajaj Capital
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Complaint by: SUBRATA on May 23, 2012, 2:23 pm in Insurance All

Dear Sir,
I Sri subrata Sengupta, I had purchased a Birla Sun Life Vision Plan
Single Premium Policy Rs.50000/- Policy No. is 005545016 on 24/04/2012.

Story of Policy purchesing process :-

I had received a call from Birla Sun Life Delhi , called by Mr. Kunal
Malhotra, he told
his designation is Sr. Login Manager on 11/04/2012. He offered the
above mentioned policy with following benifits :-

1. After one month I will get 32000/- like that as Bonus.

2. 100 yrs LI Benifit and Mediclaim.

3. After 5years I will get Rs. 119000/- as Maturity value.

4. Get Welcome kit with Full Term and conditions with mentioned offer.

That time I asked to mentioned person, how to give that type of lookretive
offer? Then he introduced with another person named Aditya Jaiswal (Sr.
Technical Manager) over the phone. He described and told it is
possiable because between Company and you no agent is there. So agent pay out
load is not on this policy. So it is possiable.
And asper discussion, he send a doc girl to collect the documents from
me. And she collected following documents :-
1. Voter I Card and Pan Card (Xerox copy) 2. Rs. 50000/- Cheque (SBI
Kolkata Esplaned Br.).

After that I received the Bond on 29/04/2012 and after study the
policy bond I observed So many mismatch and discrepancy with offer commitment.
Mismatch As follows :-

Offer Commitment
—————–
1. Single Premium Policy
2. Get Bonus Amt. Rs. 32000/- after a month.
3. After 5 Yrs. get Mat. Value 119000/-
4. Get Welcome kit with Full Term and conditions as per offer commitment.
5. No Agent in between Company and me.

In Bond
——–
Regular Policy With Pay Term 18 Yrs.

Not mentioned in Bond.

Not mentioned in Bond.

But not get any welcome kit.

In Policy Bond Involved Agent Bajaj Capital.

That time I called back to Kunal Malhotra and Aditya Jaiswal, and
asked my following doubts :-
1. Single Premium Policy not mentioned in Bond
2. Bonus Amt. Rs. 32000/- after a month not mentioned in bond.
3. After 5 Yrs. get Mat. Value 119000/- not mentioned in bond.
4. Get Welcome kit with Full Term and conditions as per offer
commitment not mentioned in any where..
5. No Agent in between Company and me but agent involved Bajaj Capital..

They are told me , you please ignore the policy bond and wait 60 days to
get welcome kit with term and conditions as per offer commitment.
They also told
me Birla Sun Sell All Insurance Product through Bajaj Capital, IRDA
not given any permission to Direct sell insurance product to Birla Sun
Life , so Birla Sun mentioned in bond product sell through Bajaj
Capital.
After that I will make so many call and SMS for clear my doubt, but
they are bypassed me every time, they are told "pl. wait and ...
wait".
After that on 16 May 2012 I have received a call from BSLI call
centre Baroda Gujrat, I talk with Miss Pramila, she told me this call
is confirmation call, when I asked about this policy, she told me
this is not a Single premium policy, it is regular policy, and she
also advised me to contact nearest BSLI branch for cancellation the
policy.
Now I understool I cheated by advisor and policy mis-sold. On 18/05/2012 I
have visited Birla Sun Kolkata Zonal office and meet your Manager and
manger observed the case and told me Free Look Period is over on
13/05/2012.
Actualy I dont know about free look term and conditions. When Birla Sun
call centre knocked me to lodge a complain regarding this matter,
then I donot
waste time and visited BSLI office and submitted a complain and the
above complain receveied by BSLI manager. And another complain lodged
through e-mail to BSLI
(Grivence and Customar Care). Complain Lodge No. is 27289897.

If you want to see all communication (SMS) with BSLI representative, I
gareed to produce.

Another thing for your kind information that I searched in internet
and found that so many
people victimized by both BSLI Representative (Aditya Jaiswal/Kunal Malhotra) .

So I am requesting you please take necessary action that BSLI to
cancell the above
policy and refund the amount to my bank account.

Thanks & Regards

Subrata Sengupta
14 Swami Abhoya Nanda Lane,
Po. Bhadreswar,
Dt. Hooghly.
712124
Mob. 0********20
********30

Complainant's Goal: BSLI to cancell the above policy and refund the amount to my bank account.
Complainant's Target: Birla Sun Life
Complaint Location: IndiaWest Bengal
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Wed, 23 May 2012  Message from iComplaints.in Helpdesk

An email communication has been sent to Birla Sun Life on May 23, 2012, 2:23 pm