My grand father has taken Birla Sunlife insurance policy No 001387462, dated 25/01/2008. It was 3 years premium pay policy which was duly paid.
Unfortunately he expired 0n 02/06/13, I have submitted the death claim on 11/07/13 but when I was accepting a claim money I received a letter on 27/07/13 that your claim can not be settled as your policy was terminated on 25/02/13.
1.If policy was terminated before why we were not informed?
2.If policy was terminated before, sir as per my knowledge and IRDA guideline, I should receive the foreclosed amount? Which is not rcv till date.
3.Policy is terminated when it is lapse for continuous 2 years but in my case it is direct terminated without lapsing?
4.Sir as per insurance law the customer should be informed before the termination of policy so that if he wants he can continue it, where is that letter, sms, or mail?
5.How can a life insurance co. can terminate a policy by applying a rule which is neither mentioned on policy bond nor informed about it. Copy of policy bond already send to IRDA & Birla Sunlife
6.My policy was 3 year pay premium mode for which I fully paid. Inspite of getting interest my whole amount become zero in the name of charges for which even I was not known .
Sir, Birla Sunlife is not able to ans any of my question. So plz look in to the matter & try to sort out my problem.
With lots of hope.
Regards.