Last year, a local branch manager from Chandigarh Named by Ms Rajani kumari from IDIBI has offered some investment option “Guaranteed Return Fund 20001219″ with the pretext that IDIBI has launched a new & limited plan of 10% growth assurance. At that time I was investing into different -Different ULIP plans. I told her that I am more interested in Monthly SIP, so she told me that this fund, I can start with Rs 2000/month with the top Up Facility. So on enthusiasm I had given her the cheque of Rs 2000 along with Rs 100,000 as top up amount.
After 10 Days, I was Surprised to See the Policy 4000134626 which is for Rs 100,000 (with the annual premium of Rs 100,000) and additional Policy 4000151071 (with monthly Premium).
Attached Please find the Policy Details.

ISSUES:
? She made deliberately two Policies which was supposed to be one that too for Rs 2000 P.M with top up facility which I had invested Rs 100,000.
? Based on questioning, she told me that I am benefited as my insurance cover will be high, it is an additional benefit provided by the bank.
? I told her, I cannot invest Rs 100000 on yearly basis as this is very high Premium as I had Chosen top up facility not as regular or compulsory premiums , Based on Questioning, She Says “ Not an Issue” , you need not to invest for future, the policy will remain in force.
? Lastly, when I asked for Fund Value of my above stated policies, she had given very lucrative fund values and prompts me to top up more. But When I had confirmed back from their Website, my Fund Value has actually depreciated from 100,000 to Rs 96000. Based on Questioning, She told me that she was trying to contact me from the last so many month for the fund Switch as this fund is not Performing well.
? I somehow managed to switch my funds to Aggressive funds like Equity Growth Fund & Nifty Index Fund, But still not Satisfied.

Therefore I am making request for surrendering my policies and help me in getting out from this dirty loop.
Since this Policy was sold to me with fictitious illusions, so I would request you to help me for taking my money back (this is my Hard Earned money)

Lastly, I would request to take Strict Actions against such people who are looting us under the roof of Insurance Companies and should be strip off from doing such shameful acts.
You are requested to resolve my grievances.

Rajan Chopra
rajan@svilindia.com