I want to close the a/c prematurely & I will be charged a penalty of 1 % on the principal amount and not on the interest which is very unfair, unjust & cheating
I have sent a mail to the RBI but haven't received any reply
pl help me Regulators RBI, SEBI etc
My father Shankarbhai Patel, also PMS investor and member with ML, has Mediclaim policy from New India Insurance through Canara Bank customer group Insurance. His age is 82, my mother is 78. Both of them are on the same policy. His premium for Year 2018-2019 was Rs 14314. This was increased to Rs 25729 in 2020-21 and not for 2021-22 it is further increased to Rs 35143. His sum insured is Rs 700000. There is no change in his age slab. He has no claim ever since he has the policy (4year now). There is no concrete response from the customer service on why so much increase. They claim it is all approved by IRDA which does not make sense.
How do I go about requesting reduced premium and refund of the access ?
Thanks,
Ashok Basic legal research
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