1. Name of the complainant: BAKULESH.JAYANTIBHAI.PATEL___________
2. Address of the complainant: GREEN PARK SOCEITY, TA: DEESA, near ______________________ GAYATRI Temple, B.K.GUJARAT-3885535.
RECENT: B-202 PUSHPRAJ RESIDENCY
NEAR GOTA OVER BRIDGE, NEW S.G.ROAD “CHANDLODIYA._AHEMDABAD _382481_____
3. E-mail/Telephone/Fax: PATIDARBAKUL7@GMAIL.COM
4. Whether Individual /Company: Individual
(Please tick)
Individual Company/other entities
5. Name of the Insurance Company: _Kotak-Mahindra-Old-Mutual-Life Insurance
6. Address of the servicing office/branch with office code (if available):
Kotak-Mahindra-Old-Mutual-Life-Insurance ADITYA COMPLEX, 2nd floor, new bus station, DEESA-385535
KMBL.DEESA-60035086_______________________________________
7. Policy number/Proposal deposit number: _00970918 / 708042______________
8. Number: of complain: NOT PROVIDED REQUESTIG LOTS OF TIME
9.contact no : 9978055155 and 7600080828
The complaint is a dispute in regard of premium paid of Rs 1lac annually, which was forced on me for continuing OD/CC facility provided to my firm ‘B.J.Enterrise’ .And Mr. Gaurav Dave(official representative)misguided me that their company is not charging any allocation charge like other does. Even 1 more agent/broker came with a form and took signature of mine at some 2 places without any conversation, just said that Gaurang & Himanshubhai said do it as after 2 days march ending is there. The policy document came to me after expiration of about 1&half month. Next in June I received a statement in which 14000Rs was deducted as allocation charges and 150Rs /month as administrative charges. I talked with all the 3 persons and they gave me negative answer .when i got first receipt Rs 99800 was deposited as premium and 200 as documentatation, so due to this dispute I said to return premium amount back to me as i dont want to continue any more because the agent were saying of total allocation of 1 lac as premium amount. they replied that you must have took this dedesion within 15 days then it was possible, but I received the document set after 1 & half month so it was over. And lastly that now if you wish don’t pay the next 2 premium and after complete of 3 years period your available a\c money you can withdraw or surrender.
After 3 years I called to customer care and also to Gaurang Dave at the head office I got shocking answer that there is nil balance in your account. I asked for the statement of that account , they said strictly that they are not liable to give that and what to do with that? As it is 0 balances. Now whatever payable amount is there after the dispute on policy wording pertaining to claim payment, delay in settlement in claims-issue of insurance,on going through the policy paper it is there written that if policy is in lapsed mode and not renewed within 2 years after the 1st premium,whatever amount is there in holders account after administation charges will be returned to policy holder. I hope I will get my premium paid after some deduction from the KMLI ltd. As it is matter of pure fraud and cheating by the KMBL or the 3 officers. So reply me ASAP and whether to take any criminal procedure against the officer.
1 Himanshubhai (KMBL manager 2008)
2 Gaurang Dave (Representative and now head of dept, Ahmadabad)
3 Mr.Samir B Vyas (official representative)