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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.

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