Mis-selling of insurance polycies
The insurance agent of Anand Rathi insurance broker had approached me in Feb 2010, to see my HDFC mutual fund profile in Anand Rathi Financial services web site and told me to re-invest your locking free amount of HDFC mutual fund in other good plans which give more benefits in short term. I wanted to invest only if it is short term investment plan, I clearly told her that I will invest if it is short term plan, and he is agreed and approached me with her friend for a plan in which minimum you should invest 3 years after that you can surrender your plan and you will get assured 7% to 8% interest with your deposit amount.
The insurance agents had taken me in confidence for assured benefits by other means and by doing mis-selling, cheating, forgery, fake promises and wrong information; they have done five numbers of insurance plans in one year time period. They have done policy No. 01905118 (Kotak Life Insurance), policy No. 004053847 (Birla Sun Life), policy No. 0187946296 (Bajaj Allianz), policy No. 832062202(Max Newyork Life Insurance) and policy No. 005040564(Birla Sun Life).
After compilation of 3 years period i.e. in Mach 2013, I have approached agents for stop ECS and surrendering my first policy, he taken application for stop ECS payment from me and stop ESC of that policy and told me that these plan have two year lock in period and you will get your money after 5 year compilation. Similarly he taken application from me and stop ECS of other policies.
After that agents has left the job at Anand Rathi insurance broker and in 5th year he switch off the mobile no also. I had not any other identity or address of agents. I have approach to trace out address of this mobile no., it is located in DAUSA and the person whose ID is used for issuing this SIM is not aware about this Mobile No..
After compilation of 5 years in Mach 2015, when I approached Anand Rathi insurance broker, C-98, Sanghi Upasana Tower, Shubas Marg, C-Scheme, JAIPUR, unfortunately agents had meet me, but he refused me for any commitment(and say “I don’t know you”) and threatening me for not follow us.
Due to surrendered of above first four policies which ESC has already stopped by agents after compilation of three year, I have occurred losses approximate Rs.1.5 Lakh and due to mis-managed my HDFC mutul Fund account I have occurred losses approximate Rs.1.3 Lakh, total Rs 2.8 lakh.
The agents have not given me in writing for deposit 3 years any where else, what type of action taken againts him advice me.