IDBI is so pathetic both at service level and sales level. It has sales guys, who are experts in misleading customers just for sales and their incentives.
I purchased a policy worth INR 53000/year premium and I was supposed to get my funds more than double within a 5 year terms with a sum assured and life cover of INR 6, 50, 000 each. After receiving the policy, the case became totally different.
I gave my consent to IDBI via email very next day of receiving policy that I want to cancel my policy. The Insurance seller, Chandar Shekhar, Senior Manager, collected policy from me assuring that I will get refunds within a week. It’s been more than a month now that I did not receive my funds. That insurance guy is now behaving insane, rude and denying that he collected policy from me. However, I took his signatures on my cancellation request application when he took policy from me.
Now, it’s been more than a month now that I am interacting with support, Senior Support head team as well grievance to cancel my policy and refund my funds but no resolution.
This is what happening with Insurance Companies in India – BIG SCAMS.