How people of country are secure if they are looted by licensed financial institutions government arbitrarily

Grievance Status

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Status as on 02 Nov 2017

Registration Number : DEAID/E/2017/03404
Name Of Complainant : Surendra Kumar Maurya
Date of Receipt : 08 Oct 2017
Received by : Department of Financial Services (Insurance Division)
Forwarded to : Insurance Regulatory & Development Authority
Contact Address : Insurance Regulatory
Development Authority of India, Parishram Bhawan,
Basheer Bagh, Hyderabad500004
Contact Number : 04023490811
Grievance Description : To Chairman, Max Life Insurance Company Limited, Max House, Third floor,1 Dr Jha Marg, Okhla New Delhi 110020, India Undoubtedly your applicant had to pay the next premium by 10-July-2014 but because of fatal illness of my wife and me your applicant couldn’t do so but delay in payment of the premium could be condoned. Most important point is without refunding my paid premium in accordance with the rule, how the policy can lapse? With great respect to revered Sir, your applicant invites the kind attention of the Hon’ble Sir to the following submissions as follows. 1-It is submitted before the Hon’ble Sir that whether it is justifiable that when the policy was closed arbitrarily but refund was not made. If the policy has lapsed, then it is the obligation of concerned staffs to refund my paid premium without any more delay. 2-It is submitted before the Hon’ble Sir that which constitutional law allows a company or firm to forfeit the hard earned money of poor citizenry by making their own draconian laws in order to cheat poor and less educated people of the country. 3-It is submitted before the Hon’ble Sir that it is the obligation of public functionaries accountable to set my paid premium refunded so that your poor applicant may pay the debts taken in order to pay the expenses incurred during aforementioned fatal illness. 4-It is submitted before the Hon’ble Sir that all the concerned document is attached with this representation and Hon’ble Sir may take a glance at those which will prove the claim of your applicant. This is a humble request of your applicant to you Hon’ble Sir that how can it be justified to withhold public services arbitrarily and promote anarchy, lawlessness and chaos in an arbitrary manner by making the mockery of law of land? This is need of the hour to take harsh steps against the wrongdoer in order to win the confidence of citizenry and strengthen the democratic values for healthy and prosperous democracy. For this, your applicant shall ever pray you, Hon’ble Sir. Yours sincerely Surendra Kumar Maurya S/O Jeera Lal Maurya MOBILE NUMBER-7388397486, Mohalla-Shivala Mahanth, Post-Putali Ghar, District-Mirzapur, Pincode-231001, Uttar Pradesh.
Current Status : CASE CLOSED
Date of Action : 02 Nov 2017
Details :  We advise as above, having forwarded your grievance to the concerned Insurer for addressing the issue. The resolution posted by the Insurer is as below. : Resolution attached in PDF format. You can take up the grievance through Integrated Grievance Management available with the link http://igms.irda.gov.in/.In case if you are not satisfied with the resolution provided by the insurer, he/she may file a complaint with the concerned Insurance Ombudsman (for settlements up to 30 lacs ) for examination and disposal under the provisions of Insurance Ombudsman Rules, 2017. For any further information, he may visit www.gbic.co.in. Further, the Insurance Ombudsman Scheme is an Alternate Dispute Resolution mechanism with summary proceedings. In case if you are not satisfied with the decision of the Insurance Ombudsman or the amount is more than 30 lacs, you are free to approach other appropriate judicial or grievance redresses forums.
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Mahesh Pratap Singh Yogi M P Singh

To Chairman, Max Life Insurance Company Limited, Max House, Third floor,1 Dr Jha Marg, Okhla New Delhi 110020, India Undoubtedly your applicant had to pay the next premium by 10-July-2014 but because of fatal illness of my wife and me your applicant couldn't do so but delay in payment of the premium could be condoned. Most important point is without refunding my paid premium in accordance with the rule, how the policy can lapse?

Preeti Singh
3 years ago

To Chairman, Max Life Insurance Company Limited, Max House, Third floor,1 Dr Jha Marg, Okhla New Delhi 110020, India Undoubtedly your applicant had to pay the next premium by 10-July-2014 but because of fatal illness of my wife and me your applicant couldn't do so but delay in payment of the premium could be condoned. Most important point is without refunding my paid premium in accordance with the rule, how the policy can lapse?