I had purchased a platinum plus II policy on 31-3-09 by paying Rs. 1 lac as premium. life assured was of my son whose medical report was submitted by their branch office on 7-4-09. however, policy was issued only on 24-4-09 and hence nav of 15-5-09 was considered and thus i am loosing approximately 6.5 % which is likely to be huge sum at the end of 10 years. a letter written to the company is reproduced below:
From:
Kirtida K.Thakkar
85, Kunj Society,
Alkapuri,
Baroda 390 007
Ph: 09824444150 [keyur]
Date 27-5-09.
Regd. A.D.
To,
The President,
Birla Sunlife Insurance Company Ltd.
6th Floor,
Vaman Centre,
Makhwana Road,
Off Andheri Kurla Road,
Near Marol Naka,
Andheri [East]
Mumbai 400 059
Dear Sir,
Sub: Platinum plus II policy no. 002782710 – insured person Manthan K. Thakkar
I am sorry to encroach upon your valuable time but since my efforts to get the due justice to my reasonable demand I had no choice but to approach you.
I had paid Rs. 1, 00, 000/- by cheque for my above mentioned policy and a receipt to that effect was issued to me on 31-3-09. further it was confirmed by your customer service cell that the cheque was encashed on 31-3-09.
All the medical reports was cleared on 7-4-09 and receipt to that effect is also sent to me with my policy documents dated 24-4-09.
The policy amount which I had paid was to be invested in Assure funds till 15th of calendar month. Accordingly the money was to be invested in Assure fund on 31-3-09 or say by latest on 7-4-09 after the medical test. However, I have been informed that the money was not invested till 24-4-09. Please note that the NAV difference of 8-4-09 and 24-4-09 is 14.3364-14.1518=0.1822 [=1.3%]
Further the switching from Assure plan to platinum plus II plan was also done on
15-5-09 instead of 15-4-09. NAV difference in this case is 10.8754-10.2544=Rs.0.621[=6.05%] and thus I was allotted 8149.8760 units instead of 8681.9157 units. Thus I am at loss of 6.5% no. of units and which will be sizeable amount after 10 years.
I hope I have been able to explain you the details of loss and request you to advise your subordinates to issue necessary correction without further delay to avoid unnecessary correspondence and complications.
Hoping to hear from you soon,
Thanking you,
Yours truly,
Kirtida K. Thakkar
CC: The Territory Manager,
Birla Sunlife Insurance Co. Ltd.,
Alkapuri Arcade,
R.C. Dutt Road,
Baroda
For information and necessary action please.
the matter is unresolved till date.
kindly advise what action should i take? should i approach IRDA or Ombdusman before consumer forum?
keyur thakkar
h/o kirtida thakka
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