Fraud company - stay away, save time and money. Review on Bharti AXA Life Insurance

I got trapped in an investment plan called Elite Advantage. It was over a phone call from Mumbai. I live in Hyderabad. It's been just 3 weeks now. I realized the scam the day I got the soft-copy of the policy and despite trying everything, I'm pretty sure I have lost my money(about 62, 700 rs), as they keep some excuses or others for not being able to close the policy.

Let me start from the top.

I got a call from a salesman from Bharti Axa. Let's call him crook#1. He told me that there was a special occasion that the company was giving out this 12-year investment plan at 0 processing charges. He also told me 12% annual returns, term insurance with impressive sum assured, and several other benefits. He asked him if all these will be there in the policy document, he said obviously.

My one mistake, I didn't research this, and signed up and paid the first annual premium.

Now starts the real journey.

In 2 days, I get a soft-copy of the policy document. Completely different terms. I'll have to pay for 12 years, and I'll get back 65-70% of the principal over 13-20th year. Talk about a negative ROI.

I tried to cancel right away. But now the salesman is unreachable forever. He's either busy or won't pick up the phone. Any excuse in the world, I got it.

I try emailing their grievance mail id. Turns out it's fake and mail bounces back to me. Thrice.

I try visiting their nearest branches. 2 of them. Both unreachable. One doesn't exist in google maps, and the other is simply a fake address meaning there is no office at the given address.

I mail their service mail id and get no response.

Enter crook#2. I get a phone call from one of their service managers. He asks me how my relationship with the company was doing as if he mailed out of courtesy and not because of my mail. When I forward him the mail, he asks why I'm being so insistent about a mere 60k. I tell him to return me the mere 60k.

He also gives me many more reasons that the policy can't be cancelled now. After I kept arguing that this policy was a fraud from the start, he asks for some time to process the cancellation.

It's been almost 2 weeks now, and he just keeps avoiding me, or telling me that he's either sick, or out of town, or celebrating some festival, basically everything but working on my case.

Yesterday, finally he told me that he has processed the cancellation. I asked him to send me a confirmation mail. He said it'll take time. I asked how much. He said he doesn't know.

So, clearly, he just told me that he's cancelled, just to get him off his back.

I'm pretty sure that I have lost my money, and I won't get it back unless I go to the authorities.

I can't imagine a company which has such a big name doing this to its customers.

Please stay away from Bharti Axa, and save your time, money, and mental peace.

By the way, I feel no shame in sharing details.

Crook#1: Swapnil(mumbai): 996719xxxx

Crook#2: Jhoncy Philipose(mumbai): 865288xxxx

I'm sure that they have hundreds of these crooks, but I'm just mentioning the ones I know about.

Please name and shame.

Update(11/10/2020): After almost 3 months on asking on various email IDs, phone numbers, having talked to at least 15 different agents, having spent almost 50 hours of my precious time, I got my money refunded to me. Though, I'd still not recommend to anyone to buy any products from Bharti Axalife.