The last time we checked, IRDA was still is in process of setting up an online system, Integrated Grievance Management System (IGMS), to directly listen to Policy holder’s complaints. That system is now complete and can be accessed at this page igms.irda.gov.in
But, remember that IGMS platform should be used only after contacting your Insurer. Every Insurance company has a Grievance redressal cell to listen to problems if its holders. Only after registering your complaint (you have to visit the insurer’s office to register), but not getting a satisfied reply (nor no reply at all with in 15 days of complaint registration), you should go ahead and escalate the issue for IRDA’s perusal through IGMS.
Visit the link given above and register as a new complainant. You should give your details such as Name, any ID proof, Address, contact number and certain information related to your policy. Hence, keeping policy document beside you while registering the complaint will speed up your process.
One’s the registration is complete, you may simply login to IGMS to check your complaint status, which is now taken forward by IRDA on your behalf.
A gang of Agents is active in the capital who Sell the Policies by Mis-Information and to prevent cancellation during free look-in period they make some change in the Address, Mobile details so that people don’t get Documents to check its Contents. So it is returned back to the Insurance Company. Since it is in the interest of Insurance Company to get business, so they encourage such Agents activity. IRDA is not taking action on such Insurance companies.
Wow, seems like a big thing. You have any concrete proof for this? So that I can take it up with some people I know in the industry.
To,
The Manager,
Life Insurance of India
Branch – II
Near Bindal Bridge,
Dehradun.
Subject: Regarding submission of LIC premium through ECS
Sir,
I am Pradeep Rawat, we have purchase a policy from LIC OF INDIA named Jeevan Saral (Table No. 165) policy commencement date on 19/08/2009 and choose premium mode monthly E. C. S. but after 19.03.2012 no payment is deducted from our bank account, this time sufficient balance is my bank account and no information was given by LIC for non deduction. After four month we check our a/c non deduction comes to know after that we approach to LIC persons then they tell it is not in our control where as the charging interest from 04 months, still our regular deduction is not made, kindly look in to the matter give justice.
Complaint IRDA Token Number: 07-12-015884
Insurance Company Name: Birla Sun Life Insurance Company Limited.
First of all I must clarify that this is not a complaint but a sort of clarification. Your good self may be aware that PSU-BHEL has been introduced a pension plan to their employees from 01/01/2007. This process is under way. After going in details, the pension amount is in the range of 7 to 7.5% of our capital whereas the FDR interest rate is approx 10% for Sr.Citizen. As we all are Sr.Citizen hence 2.5 to 3% less pension is justified i.e Insurer company is keeping this amount as service charges.
When we asked this question from the company then they tell us it is approved by IRDA. As we can not take this money from BHEL and can’t do the FDR hence these companies are not cheating to us.
In view of above, We want your confirmation whether Insurance companies are offering their best to us or not. If not then, your involvement can help us.
You must be aware that this pension amount is very less i.e in the range of Rs.1000.00 to 9000.00 which is not sufficient for living in the present circumstances.
You are therefore requested to do our help if possible from your end so that BHEL retired 1.00 Lacs employees will be in a position to live satisfactorily.
Thanking you and awaiting your positive response in this regard.
long time period this matter pending…….complaint token no. 04-12-026510 ……..not refund fully amount 99,999/-Rs…………..plz my complaint status………
fast feedback.(policy no.19681195)
I got life stage pension policy 5 yrs ago (No. is 08021841)(15000/-). I did not get any information by SMS/mail/or any paper (letter/document) in last 5 years reg fund value, status of the funds deposited. Now recently I got a call from ICICI (some Mr. Varun Saxena from Delhi) which revealed that first premium was not allocated rather kept as a security, and from my premium of Rs.15,000.- every year being deposit to ICICI, a 20% of that which amounts to Rs. 3000/- is going in account of some agent, who motivated for this policy to be materialized. How and on which basis that cheater agent is taking a share of my premium every year, what right he has for the same. Tell me, is there Any body in the world, who will like his hard earn money to be shared by others, without any effort. He projected for 100% allocation of premium (without cutting) into funds from very first years and total lock-up period for 3 years. When I asked Mr. Varun Saxena to cancel the policy(surrendering) then he told me there will be charges even after 3 years, this is a policy for 18 years, before that you cannot go for cancellation without penalty. Please tell me /guide me how to proceed, to whom I should go for complaint. Even there is no office in Panchkula (for ICICI prudential). Pl. take a lesson and save others from being deceived from such company agents. Thanks, and hoping for a favorable response and guidance from your side. I wrote a mail to icici and submitted in their website, but no reply received ever after 15 days. Thanks
First of all, Agents get their share from the premium amount itself. That is how they earn their money. They are not insurance company employees and do not get monthly salary. Commission from the premium is what they get and this is common with all insurance companies. However, how much commission they get differs from company to company and differs by the policy being sold too. In LIC, normally, an agent will get 20% of the first year premium amount as his commission and in the next year, this will be down to 10%, then 5% etc..
But, 20% of the premium amount going to the agent for 5 years is something strange.
Regarding cancellation and surrendering, what the ICICI Official said appears to be true. There will generally be a lock in period for 3 years. You can still cancel in this period but you will not get any benefits. From the 4 th year, you may surrender the policy bearing some cancellation charges as the official mentioned.
As a policy holder, you should have been aware of the policy details before subscribing to it.
If you want further clarifications, you can contact ICICI itself through their grievance redressal system here
i m fill account on 28-march-2009 in met life insurance , i pay half yearly 6,0000RS,in acc on my policy no 1200900849582..,up to 3 yrs will not any response 4r this company plz accept my compliant … thanks and my name is zannat pal kaur
LIC OF BHILODA BRANCH PAID S.A 50000RS OF JIVANSATHI POLICY DATED 2/05/2022 MY CLIENT HAS MITABEN B SHAH WAS EXPIRED ON 14/03/2011 BUT TILL TODAY MY CLIENT BHAVESH P SHAH HAVE NOT RECEIVED ACCIDENT CLAIM WHY DELAY CLAIM PLEASE SEND CLAIM WITH INTEREST AS EARLY AS POSSIBLE TO MY CLIENT
PLEASE MY WIFE SHAH HASMITABEN BHAVESH KUMAR EXPIRED DATED 14-MARCH 2011 ON RAIL ACCIDENT BUT TILL TODAY I HAVE NOT RECEIVED MY ACCIDENT CLAIM ON BHILODA BRANCH,MY POLICY NO IS851276229 TABLE NO89/20 POLICY HOLDER NAME IS B.P SHAH&HASMITA B SHAH, I RECEIVED ONLY S.A BUT NOT RECEIVED ACCIDENT CLAIM TODAY
we got insurance of three wheeler from shri ram insurance co in 15-5-09. The same three wheeler was stolen and we gave all the formalities to co in 28-2-10. still the case is pending with them and they are not releasing the payment. regarding fully detail and formalities
please intimate us on email. thanks
sikri finance& investment co
on behalf of Satish kumar s/o bodhu parshad
theft of PB-10-CQ-4626
With an high expectation from your good offices I would like to lodge complaint for the following Insurance Organisation. Neither they are providing me the Funds Position nor
being informed when I shall be able to withdraw my payments. As I am now a retired person and with a small amount of Pension (Very handful) is very difficult for me to maintain my family. Please help me in this regard
ICICI – Policy No. 10361201 dt. 15.11.2008 @ Rs.12000/ per annum
BAJAJ Policy No.0184158148 dt.01.12.2010 @ Rs.1,00,000 Lac per annum
BAJAJ Policy No.0103630370 dt.29.07.2008 @ Rs.30000/ per annum
MET LIFE Policy No. 1200800697243 dt 04.11.2008 Total Paid Rs.1,14,000/ for 3 Yrs.
With due respect I would like to bring your kind notice once again HOW CAN I GET THE
FUNDS POSITION AND WHEN I SHALL BE ABLE TO WITH DRAW THE MONEY.
Thanks & Best regards
Sujit Kumar Banerjee
For …
BAJAJ ALLIANZ-1800-300-7272
MET LIFE-1800-425-6969
Call them and you will get the details regarding your policy.
dear sir,
we have invested in golden forest india ltd, Chandigarh but the same co. is closed now but co have
give insurance certificate with General insurance co, India for our amount. we have rs.68000/- with co. as our maturity amount in feb 2010 but we did’nt get it from the bank , now will you give a solution to get our insured money from General Insurance co. India.