AVIVA LIFE INSURANCE COMPANY INDIA LTD
DELAY IN SURRENDER OF MY POLICY

I want to formally lodge a complaint against Aviva Life Insurance company India Ltd..This company has cheated me since beginining. I was given life bond 5 by a sales executive and was told that I can surrender my policy anytime after 3 years without any policy surrender charges. But now, when I went to aviva's office for surrendering the same, I got to know that there are many charges which would be deducted, but till date no one was ready to inform us that what is final amount we are going to get and what would be exact deductions. Moreover, it was heights when I came to know that policy surrender proceeds takes a time of one month. As per IRDA norms, any ULIP if surrendered, takes 3 working days to get the surrender amount, I had surrendered my policy on 1 April in Aviva's FC Road branch, Pune and the same was received by the officials at 12:02pm. I have the receiving for the same duly signed and stamped. Accordingly I should have received the maturity proceeds by 6 April, considering 2 apr as public holiday and 4 apr as sunday. But today its being 12Apr, i.e exactly 8 working days have passed and I have still not received my policy surrendered amount. Also, when I called up customer care, they told me it will take around a month to get the same settled. My simple question being when I have already opted for NEFT as my mode of payment... does it still takes such long time??? Why are we being cheated by such pvt. insurance co.s and why IRDA cannot cancel license of such companies, when they know that modus operandi of such companies is pathetic.

Company: AVIVA LIFE INSURANCE COMPANY INDIA LTD
Country: India
State: Maharashtra
City: Pune

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