Consumer Redressal

Cancellation of Birla Sunlife Insurance Policy # 006056474/ Client ID 9825669845 I am 65 yrs old from Thane. I was approached by tele marketing representatives of BirlaSunlife,saying that Rs 1Lakh will fetch me 13% interest & entail mediclaim cover for self and spouse with bonus and incentives. I was also told that this being an anniversary offer, company will give back cash benefit of Rs10000/- within 15days of issuance of the policy if I take the policy before31.3.13. However, upon receipt of the policy, I realized that the marketing calls were from the Broker of Birla SunLife (PROBUS INSURANCE BROKER LTD). Upon scrutiny of the policy, I noticed that it betrayed me of the promises .As per policy, I am supposed to pay last premium in 2032(in view of my present age, by that time, I will not be alive).As such, I returned the policy for cancellation to their Regd office through courier service (it was received by them on 20.4.13 within free look period of 15 days)