I have a policy with Birla Sun Life insurance which I gave for redemption on April 3rd 2011.
I was told by a Mr Mahesh at the Birla Office at Kamanahalli, Bangalore that the amount would be deposited within a few days. Its been 15 days and till date I have not received the money due nor have I received any response for the 2 emails I have raised through the birla website.
I finally managed to get hold of an executive that says that there was some issue with the quality of the scan/copy of my redemption request that was sent from their branch to their head office (as if thats my fault) and this was causing the delay in paying me out and someone will look into the redemption process.
Firstly they charge you too much, then they play hardball when it comes to pay back your money. Simply put stay away from Birla and such houses, stick to a very basic LIC term insurance policy.
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