Misguided Selling of Policies using Fraud Agencies. Review on Reliance Nippon Life Insurance

Refund processed after making the complaint on https://igms.irda.gov.in/

This Complaint is regarding the Reliance Nippon Guaranteed money back plan purchased from fraud agent, MR. North India Finserve Pvt Ltd and MR. North India Finserve P Ld xz.

Vikash is the Agent name and number is-+91-7088577XXXX

Agent communicated in Feb, 2020 that if I invest Rs 50000 PA in this Guaranteed Money back policy, after surrender by the end of 4 years I would get sum of Rs 3, 05, 000/- . He also told me that if I pay the entire premium of Rs 50, 000through credit Card, the company will reimburse the Interest portion, but reimbursement is never received.

Again I got a call from him in April 2020 and said that there is an offer in the Covid Lockdown period and assured me that on paying Rs. 50, 000 and the same will be managed in existing policy and I would have to pay only the next 2 year premium on existing policy and get a return of Rs. 2, 50, 000.

But later on, I got a message from RNLife that a new policy has been started on my name Policy No. 537034.

I called him then he said that he will merge policies at the time of premium payment, but I am trying to reach him on his phone. It has been switched off for the last 3 months.

So I called Reliance Nippon Customer care, Customer care and after checking with the Reliance customer care. It was found that there is no such scheme available and only Rs- 97, 000 will be received on surrender after 4 years and another policy can't be merged in the first one. And I would have to continue both policies for getting a return.

It is a simple case of Mis -selling, misrepresentation, Rebating & Fraud.

I requested Reliance Nippon to take an action against this Fraud agent and return my money but entire customer care team indirectly supporting this agent.

Fraud Agencies are in tie-up with RNLIFE:

All these 3 companies are registered at the same address:

Agent/Broker Name: Mr. North India Finserve Pvt Ltd

Agent/Broker Code: 22398433

My Policy No: 536620

Agent/Broker Name: MR. North India Finserve P Ld xz

Agent/Broker Code: 22430984

My Policy No: 537034

Agent/Broker Name: MR.North India z Finserve Pvt Ltd

Agent/Broker Code: 22419888

Address:

210, Surya Kiran Building, 19 K.G. Marg, New Delhi- 110001.

Phone No: - 112332XXXX