PNB metlife insurance company policy issue wrong charges deducted from fund value

Dear JGJ Team,

I would like to bring this matter to your kind attention as formal written complaint and expecting a resolution from PNB metlife insurance company.

My Father ( Sh Umesh Kumar Sharma) is a retired PNB employee and he took a policy 10 years back with annual premium payment option of Rs 12000/-. Today the FV values has gone very much down because the PNB metlife has stipulated some un reasonable charges wo a proper justification to us. We have eve escalated the matter to internal grievance cell but not satisfactory reply from them.

Policy # 00304605 (still in force )

We have raised our concerns to several times but there is no satisfactory response from them as noticeable from trail emails.

We have written them several letters, sent emails from past 6-8 months. I have attached those correspondence for your reference.

There standard reply is "We would like to inform you that we are working on your concern and we would require some more time to look into the matter." If we call there call centre number then we kept on hold for long time and then call disconnect with out a resolution.

Our key issues are:

" When customer has not given you instructions to deduct the premium then how come your organisation take those from FV and if the premium have been reversed also why those other charges have been stipulated to us repeatedly" They have deducted several charges


You have not shared the complete statement as discussed. Our point remain same here as below -

1. Dated 20/6/2016 below charges have been stipulated/deducted 30 number of times. Which is beyond my understanding and un reasonable. These must be reverted back soon to my FV account.



a) Policy Administration Charges - Rs 75.00

b) Mortality Charges - Rs 0.38

c) Additional Cess - Rs 10.50

d) Service TAx - Rs 10.50

e) detail not given - Rs 0.31

f) Service Tax Mortality Charges - Rs 8.72



2. Dated 30/12/2013 Rs86.40/- charged twice as Service Charge Tax Allocation Charges has been stipulated. Should be reverted back.



3. Dated 29/7/2015 Rs 250/- ( for which no details is given in statement ) has been stipulated or charges why?



4. Dated 30/3/2016 Rs 92.40/- Unit duly/duty charges has been stipulated why should be revert back into FV.



5. Dated 30/3/2016 below charges have been stipulated 11 no of times, Which is again not correct/reasonable as per our discussion and should be reverted back to my FV.



a) Policy Administration Charges- 75.00

b) Mortality Charges - 1.14

c) Service Tax - 10.50

d) Service Tax Mortality Charges - 0.17