Insurance
Active
Complaint #5012 — Besto
Filed: 19 Mar 2014 ·
Address: —
I’ve bought a traditional insurance policy (7 years - 40K premium p.a.) in Jan-14,
Sales Executive call described various benefits & big min. returns back, limited offer.
I paid cheque considering 30 days as Free look up period (FLC) to review policy docs.
Policy docs came late, end Feb 14. When I checked if the amount & benefits, found nothing but a basic sum assured guaranteed (2.45 L) which is even less than total amount I will be giving in 7 years & 15 days FLC.
I contacted customer care, written e-mail for complaints ..initially i got response to simply cancel policy and get premium back (minus some charges (~ 250)).
When I insisted to give me full amount + my tax exemption loss as I can’t submit proof now for this F.Y. company is not ready however, they seem much scared as I warned them of IRDA and consumer court as ultimately this is a fraud case, they are even extending my FLC and forcing me to cancel policy, calls coming from higher management as well.
Please suggest.