SUB: Complaint regarding misselling of AVIVA Policies by AVIVA & Centurion Bank of Punjab- Insurance (now HDFC Bank) Sales Team
This is in reference to 3 AVIVA Policies that was sold to me (mentioned below) by Bank of Punjab employees (Mr. AMITAV) accompanied by AVIVA Bank asurrance employee.
My policy details are as follows:
1.Policy Name: AVIVA Saveguard
Policy Number: ASV1863058
Premium amount: Rs. 25, 000/-
Commencement Date: 16/02
Agent Code: Y0660974
2.Policy Name: AVIVA PENSION PLUS - UNIT LINKED
Policy Number: APG1905919
Premium amount: Rs. 50, 000/-
Commencement Date: 11/03
Agent Code: Y0660974
3.Policy Name: AVIVA LIFE LONG UNIT LINKED TEMPLATED
Policy Number: WTG1506808
Premium amount: Rs. 50, 000/-
Commencement Date: 23/03
Agent Code: Y0660974
I would like to highlight the following points in connection with this sale:
A) These guys introduced the company AVIVA and its product offerings to me
B) At the time of buying the policy i specifically told the bank agent that i need a short term investment & they said" maam dont worry you put your money in AVIVA even though they are long term plans you can withdraw them in min 3 years n you will be assured a min return of 15% at time of withdrawal you dont have to wait for the policy to mature & again i specifically asked if there were any charges they would deduct & they told me it would be a minimum service charge but that will not matter as your money would have grown a lot after 3 years.
C) They miss sold the product to me as they never informed me about the charges associated with the policy in case of partial withdrawal. (Now only, that too after constantly probing the customer service desk & visiting the AVIVA office in gurgaon personally a few times I am informed that the policy withdrawal charges are as high as 56%-75 %).
D) I was quite skeptical in going for this product but after continuous pursuals and assurances by these guys and follow up calls by AVIVA Sales Manager & CBOP EMPLOYEE, I finally went for it.
E) Then last year when i was due to pay the last of the 3rd year (as told to me) when i called AVIVA at their customer care & asked to sum up the policy they told me they dont have anydetails of my policy in their system as it takes a while after the payment for updating & asked me to call them back in a months time then when i called them again after a month i was told that i can only request to sum up after next march thats march for one of my policies & there would levy charges on withdrawing the policy... so i sked them the amount they again gave me an answere that they do not know the amount n i will have to call in march for the amount. I was totally shocked at their behaviour & i called them a few times again but got no answere & each time they said they would have a manager call me back of whom i havent heard from till date.
F) I contacted CBOP (NOW HDFC) BANK for this and got a very lukewarm response from THEIR side too, as if he was just interested in making a one time sale which he did and gave no positive response to my queries regarding the high partial withdrawl charges- Their defence was that the person who sold the policy to you no more works with us & we are no more cbop bank -its been taken over by HDFC so we cannot help you with these policies any more & have discontinued selling them from a long time.
G) I feel that this is a very unethical act by your company as you first lure the customers by showing the sunny side and once they fall into your trap, only then they get to see the flip side of it.
H) I have also sent a written complaint to AVIVA's corporate office by personally visiting their office on the 30th of April a copy of which i have with me. Its been 5 months & no one has gotten back to me regarding the complaint.
I) Not once did anyone approach me during the entire year with any feedback on the money paid to Aviva. No statements from anyone on what is the status of this policy ONLY THE Then the demand for another PREMIUM .This is the only correspondece one recieves from them.
I have been hounded by calls from AVIVA to pay premiums & each time i tell them about the problem i am facing with their policies they say they will have some one call back but no one calls.even when i called the customer care they advised that i dont have a choice but to pay the premiums till the policy matures & each time a different AVIVA agent gives me a different calculation & promise that if i wait for 2 more years.
I am very disappointed with the Aviva and with their wrong & false commitments. Agents being hired to sell policies that end up completing their targets where as people like us suffer.
By doing such things probably they increase their business but at the same time they are breaching the trust of the customers..
For Policy Number: WTG1506808 i have already paid Rs 1, 50, 000/- for which when i contacted Aviva i was told after much perusal n insistent calling & visiting their office that i would only recieve approx Rs 60000/- incase i withdraw the policy. forget about any growth on it.
Also at the time of selling the policy the agent told me that after 3 years if i don't want to pay the premium i can leave the money with Aviva they will re invest it... you can stop paying & the amount of 3 years interest on it would be reinvested
For Policy Number: APG1905919 i have paid Rs 1 lac.
For Policy Number: ASV1863058 i have paid Rs 50, 000/- already.
I am under great financial pressure & unable to arrange funds for the... i am under going stress & mentally & emotionally drained out. I dont know & feel helpless as to if i will ever get my hard earned money back. I am only writing this after trying my best to have Aviva solve this issue for me but to my dismay no one has even bothered to call me even once to resolve this.
They further pass the contact no's of people like us having problems with their policies to their agent to further dupe us into withdrawing our policy & reinvesting in their other policy where our loss of money would be minimum...
I hope you will take a strict action against these companies.
Best Regards,
Heena Singh
Email: [email protected]
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