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Policy mis-sold with fake documents (fake signature put on documents)

Complain ID : CCN025420   29   Complaint's Reply

Insurance Complaint Complaint Date: January 9, 2017
I have purchased a GIIP life insurance policy from Exide Life Insurance Company Limited, having policy number 03195566. Before purchasing of this policy advisor offer me the following terms:
1. Policy 15 years
2. Premium payment terms 7 years
3. Yearly premium Rs.25000/-
4. Sum assured Rs.263000/- (approx)
5. Yearly payout Rs.28930/-
6. Payout terms 8 years

After receiving the policy I have found that the terms do not matched as offered me. Terms shown in the policy documents are as follows:
1. Policy 15 years
2. Premium payment terms 7 years
3. Yearly premium Rs.25008/-
4. Sum assured Rs.116036/- (approx)
5. Yearly payout Rs.12764/-
6. Payout terms 8 years

I am not satisfied with this policy. Moreover, the plan shown me has been changed with fraud documents putting fake signature on financial plan documents.
Complaint Against / To: Exide Life Insurance Company Limited

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    Exide Life Insurance

    POLICY MIS-SOLD WITH FAKE DOCUMENTS (FAKE SIGNATURE PUT ON DOCUMENTS) by Exide Life Insurance:

    (5 of 5)

    Dear Valued Customer,we regret the inconvenience that has been caused to you. we have noted your policy details. Please share your contact number at wecare@exidelife.in. Our customer service team shall get in touch with you with a resolution.
    Warm Regards,
    Exide Life Insurance

    Service issue | Complaint | Query | Feedback | Suggestion | Reply

    eConsumer Court (Online Upbhokta Forum) take the complaint directly to the escalation team of the company, which has the power to resolve your grievance. We send a well-drafted letter to the company, explaining the details of your complaint along with the inconvenience caused to you. Jago Grahak Jago is specially to help consumers to redress their issues and grievances. We ensure to take quick actions on every complaint filed by the customers. We work hard and tirelessly to resolve the case.