1) do you have any documentary evidence that policy has a lock-in period of 3 years with one premium to be paid in year one of Rs. 2,40,000.

2) if you dont have any thing in writing it would be difficult to prove that policy has been mis sold to you

3) insurance company would no refund your premium after lapse of 6 months

4) you have window of 15 days to return the policy

5) if you so desire you can file complaint against insurance company before consumer forum mention that policy was never received and hence you could not avail of 15 days window to return the policy . seek refund with interest of money paid by you

Hello,

if you have not signed any document wherein it was written that the lock in period will be 5 years then you can claim the refund.

You may send a legal notice to the insurance company and thereafter may file a case against the company before the consumer forum for unfair trade practices.

Regards

Submit a formal complaint under the Consumer Protection Act, 1986. You need not hire a lawyer for filing the suit.The consumer should file the complaint in the district forum.

Sir file a consumer complaint on ground of Mal practice by insurance company by misdeclaring that lock-in was for 3 years only further deficiency in service that the policy was not recieved seek refund of the amount along interest and seek compensation for the mental.agaony along litigation charges.

you can take the plea that policy document was never received by you hence could not return the policy within period of 15 days

Yes you can file a case

Regards

Dear Sir,

Better approach the Insurance Ombudsman and get a suitable relief.

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There is no prescribed format for filing complaints. All it requires is for you to submit your complaint in writing, stating the facts, with documentary proof to back your claim. If your complaint is taken up, the settlement process will get under way without even requiring your presence.

The ombudsman shall pass an award within a period of three months from the receipt of the complaint. The awards are binding upon the insurance companies.

No this is not only the good reason to take the insurance company not to the consumer forum take the insurance company is straightaway to state consumer dispute redressal Commission for the grievances and the mysterious work insurance agent has done with you you have to claim the entire premium paid because you have not been provided the 15 days window to relook your insurance policy.

2 you have not been explained properly with locking period and payment required for the premium and the period 3. The company has not entertained your request for the cancellation of insurance policy even after your submission that the conditions of the insurance has not been properly explain to you and you have not even received the insurance policy Bond.

You can claim the entire premium paid amount interest on the paid amount legal charges and compensation of rupees 20 to 25 lacs.

Yes it is valid ground and on same you can seek cancellation of your policy and refund of the amount,

You are fighting with the Insurance Company in vain instead of this you should first verify who have received the bond and the signature of that person be compared with any one of your family or what the Courier Company is saying take their statement in writing with receipt copy. So don't go straight.

You can fight for the policy document alone and not for the refund of the premium amount.

One year premium alone cannot qualify for surrender value, it will be forfeited if you dont continue the policy at least for three years with premiums paid for three years.

You can approach consumer forum for deficiency in service alone.

So, is it a good reason to file consumer complaint on the grounds that the policy bond was never received and the insurance company did not take enough responsibility to send the policy document. Without the policy document we could not avail the 15 day window return policy.

You will get that relief alone and not refund of the premium amount, you can very well approach consumer forum to get your grievances redressed.