Misrepresentation of facts

Name of Complainant KRISHNA JAKKINAPALLI
Date of ComplaintMarch 21, 2016
Name(s) of companies complained against
Category of complaint Insurance
Permanent link of complaint Right click to copy link
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Text of Complaint by KRISHNA JAKKINAPALLI:

Dear Sir,

I’m policy holder under Gold Plus II scheme, policy number 001556614, by their  employee PA Charles Wesley who promised that at the end of my tenure I shall be getting back Rs 5 lakh upon investing Rs 1.2 Lakh. In the 1st year I should be investing 1 lakh 2nd year 10 thousand, 3rd year 10 thousand rupees and the 1st year 1 lakh can be paid in 4 installments.

Upon telling him that I am not interested in any Unit linked scheme due to the MF scam in 2006 he assured that this is debt and equity linked scheme and is profitable to people who invest beyond 5 years. Birla SunLife will invest my money in top 50 performers in stock market and will ensure growth. Upon receiving assurance from another person who was enrolled in this scheme, Mr. Deepak Sharma, I too followed the suit.

 

However my troubles began very minute I opted for this policy.

 

  1. I have not been told about the free-look period and moreover I collected the documents from his office 2 months after a displeasing arguments with Charles over the payments.

 

  1. To my shock I received a non payment mail the next year to which I complained to Charles because I have issued the cheque on time. He said it is ok and can be ignored and so I have ignored the repercussions too.
  1. In meantime Deepak Sharma and few others who registered for the same decided to opt out because of poor performance of BSLI and I spoke to Charles about it. I had no clue about the procedures or monitoring continued to rely on Charles.
  1. I began calling their helpline numbers and trying to ask what to do but was met with most unhelpful answers or showing inability to understand the situation or knowing what I’m trying to tell. Perhaps I couldnt ask the right question .

 

  1. I began writing mails about what was said to me and what I’m promised to all and Sundry, which includes CGRO and my frustrations for not allowing me to approach ombudsman.

 

  1. All I received from Grievance and Chief Grievance officers was more confusion and I decided to stop this for sometime until I find sanity.

 

  1. During September this year, 2016, I was in Mumbai and have raised this issue with their call center and to which I was told that my advisor was Deepak Sharma and possibly he may be the reason for this mess. I took Deepak Sharma in that conference call and asked him to explain the position. Their help desk person suddenly went defensive and began saying that she will investigate and get back to me. When asked what my payout will be she was evasive. Later I asked if I can speak to the supervisor she put Mr. Anil who heard what I have to say and took the details and replied he will comeback to me with an answer.

 

I also mentioned to Anil and that lady who took my call and in presence of Deepak Sharma to file a police complaint in case Deepak Sharma has defrauded and we will explain the same to Police

 

  1. Few days later I get a call saying that the issue is resolved and the answer will arrive in a courier.

 

  1. I clearly mentioned to everyone that what I was promised is something else from what I may receive. Every single mail or complaint or conversation with their helpdesk was how does Birla intend to keep up its promise made by their employee? This is included in my mails to GRO and CGRO

 

  1. Let us suppose that I didnt ask the right question but my mails since the beginning and calls to help-desk were clearly telling that something is not right and I feel or was a victim of either a misunderstanding or deliberate misrepresentation.  They allowed this to fester till the end and now I receive a SMS and a courier that I should clear formalities for pay out.

 

  1. I feel Birla SunLife has deliberately delayed the matter in explaining or investigating the hook used by their employee and now as the payout time is approaching it intends to shortchange me.

Image Uploaded by KRISHNA JAKKINAPALLI:

Misrepresentation of facts

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