Answered by
 Yogesh Sapkale
My status, tricked and duped by reliance nippon advisors in name of refund of some 10 year old policy which i also could not remember. the advisor said she will get the refund done for a policy of Rs 10000/- where the fund has become Rs 1.5 lakhs. With every payment, the refund amount was told to have increased to approx 4.5 lakh, 7 lakh, and 11.4 lakh but not a single paper was shown. With the increase in said refund they extracted the first time 60000/-, then 175000, then 246000 and now asking for 281000 for refund which has gone up to 14 lakh. What I received in exchange are policies number 54069313, 54087639, and 54125034. One more policy from a different insurance company called Star Union was also sold to me for premium of 145000/-

The system was such that i got a call from the recovery team every 30-40 days updating the status that things are moving and refund would be done within few days of payment and then would suggest that refund can increase if another amount could be put in.

The process initially seems so smooth and positive that still the advisor is in touch, the whole communication has been over phone calls and updates on Whatsup where discussions are done. I have asked about her office but somehow she is yet to share the addresses.

I have not complained to the company, i would like to be guided by you and accordingly go ahead. Request your team to support me get my 6.5 lakhs back

I would like to be anonymous to the public so I am not providing my detail. I will share my details to the foundation surely via mail if asked for.

 Consumer complaints
From the description, it looks like you are taken for a ride in the name of refunds. You need to file a police complaint for insurance fraud. Also, write to the insurance companies whose policies are... Read More
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