I had purchased a policy 0208110638. i was told by company representative Kashi Ram that it is a Super Cash Gain policy. yopu have to pay Rs. 18000/- per year for regular 15 years. And the same will matured after 20 yrs. during the policy period you will get rs 47000/- after 5 years and the same will continue after 10 years and after 15 years repeatedly. After 20 years you will get the amount of Rs. 14lack on the interest of 12%. the same will confirmed by the call center while confirmation of policy on the very next day.
Now after receiving policy document on 10-Apr-11by from one of my neighbor i read it carefully and found that sum assured (Which is calculated by the insurance company)is very less then the total premium paid by me during 15 years. i called the call center on 18001025858 on 13-Apr-11 at 10:15am. the lady over telephone from the call center told me that after 20 year i will get the total amount of Rs. 451000/- (including bonus).
So now i want to cancel this policy hence i visit to the insurance office on 15-Apr-11 in Sec-14, Gurgaon(hr) and gave a hand written application to Mr. Devender Singh(GM of the said office). the photo copy of the application was gave to me with a stamp of receiving. He assured me that the process of cancelation of policy will take around 1 month.
I again call to the call center on 25-Apr-11 about the status of the policy. The lady over telephone named MS. Shobha told me that they have not received any complaint for cancelation of policy. I promptly told her to lock the complaint. She done it and replied that you have received a call from our grievances deptt. but till 28-Apr-11 no call was received from their office. I again called to them on toll free no. on 28-Apr-11 they told me that we made a call on 1800 hrs but the call was not picked hence we are unable to make call again and again to you. I said that what is the status of my complaint, she told that cancellation is under process. I again made call on 02-May -11 the representative over phone told me that as per IRDA rule we will not reimburse you the amount as you applied after 10 days of free look period.
Now you people are requested to help me to refund my money from insurance company. as i am a very poor person and Rs.18000/- is a very big amount for me.