SBI forced to buy Policy

[abhishekhembrom]

Hello, My mother was getting govt pension from treasury office, and was asked her to transfer her pension to bank, so my mother has requested to transfer her pension, the bank manager told her that they will do it but she need to buy a policy (insurance), ultimately she ended up buying a policy, so it is really required or just bank does this to full fill their policy selling targets. if not then tell me how to complaint to higher authority and cancel the policy in free lookup period.

 

[zacobite]

Hello, My mother was getting govt pension from treasury office, and was asked her to transfer her pension to bank, so my mother has requested to transfer her pension, the bank manager told her that they will do it but she need to buy a policy (insurance), ultimately she ended up buying a policy, so it is really required or just bank does this to full fill their policy selling targets. if not then tell me how to complaint to higher authority and cancel the policy in free lookup period.

no compulsion.. they are cheating for targets..

 

[abhishekhembrom]

So, What am I supposed to do now?

 

[zacobite]

So, What am I supposed to do now?

what policy.. when was it bought.. 30 day free look period to cancel.. after tht basis which product..
complain to nodal or rbi

 

[abhishekhembrom]

what policy.. when was it bought.. 30 day free look period to cancel.. after tht basis which product..
complain to nodal or rbi

SBI Life Smart Platina Assure, bought 19/09/2024. How to cancel?

 

[zacobite]

SBI Life Smart Platina Assure, bought 19/09/2024. How to cancel?

bought yesterday? write to sbi life and ask for cancellation..put that on record

 

[abhishekhembrom]

bought yesterday? write to sbi life and ask for cancellation..put that on record

unfortunately yes, can you tell me what are the steps? what am I supposed to write to sbi life ?

 

[zacobite]

unfortunately yes, can you tell me what are the steps? what am I supposed to write to sbi life ?

that you want to cancel the policy.. what else will you write ..Policy holder had to write from regd email id / follow it up with a call to cust service to take the request.. Worst case go to nearest SBI LIFe office with policy and give written request.. Dont let the 30 days pass...

New insurance rule: 30-day free-look period now to return unwanted, mis-sold policies; how much will you get back from insurer?

IRDAI extends the free-look period for life and health insurance policies to 30 days. This means policyholders have a month to review policy terms and return them. Insurance policyholders are eligible for a refund if they cancel the policy during the free-look period, regardless of how they...

m.economictimes.com

 

[rk2354976]

In offline cases, 15 days free look period in most of policies, first try to contact on toll free number if they denied then mail to sbi life and also create a ticket on bank portal also.

 

[zacobite]

In offline cases, 15 days free look period in most of policies, first try to contact on toll free number if they denied then mail to sbi life and also create a ticket on bank portal also.

offline is also 30 days now..

 

[saurabh.s]

Hello, My mother was getting govt pension from treasury office, and was asked her to transfer her pension to bank, so my mother has requested to transfer her pension, the bank manager told her that they will do it but she need to buy a policy (insurance), ultimately she ended up buying a policy, so it is really required or just bank does this to full fill their policy selling targets. if not then tell me how to complaint to higher authority and cancel the policy in free lookup period.

Just mail to SBI local head office, explaining everything and ask them to cancel the policy.

 

[abhishekhembrom]

Just mail to SBI local head office, explaining everything and ask them to cancel the policy.

I have tagged both sbi and sbilife in twitter and they asked me to raise a complaint ticket by sbi and sbilife asked me to mail,

I did both and sbilife local head called me asking what happened and I told all the things, then he asked me to write an application regarding closing the policy, and talking about solution from sbi complaint were raised the branch manager just closed without resolving the issue so I again re raised same issue and ultimately branch manager called me and then we had verbal fight, ig the Branch Manager had got belt treatment from senior head.

Both Branch Manager and the guy who is in the branch just to sell policy had a long verbal fight with me. our branch had a peon who act like he is the boss today that whole attitude was not there with him, he was saying that if you are manager you will fulfill your targets such an idiot peon why do in our semi- urban people call peon sir.

ultimately they asked me to fillup free look cancellation form, and said I'll get my refund within 10 Days. let's see what happens next.

Thank You Guy's for helping me out.

 

[abhishekhembrom]

I have tagged both sbi and sbilife in twitter and they asked me to raise a complaint ticket by sbi and sbilife asked me to mail,

I did both and sbilife local head called me asking what happened and I told all the things, then he asked me to write an application regarding closing the policy, and talking about solution from sbi complaint were raised the branch manager just closed without resolving the issue so I again re raised same issue and ultimately branch manager called me and then we had verbal fight, ig the Branch Manager had got belt treatment from senior head.

Both Branch Manager and the guy who is in the branch just to sell policy had a long verbal fight with me. our branch had a peon who act like he is the boss today that whole attitude was not there with him, he was saying that if you are manager you will fulfill your targets such an idiot peon why do in our semi- urban people call peon sir.

ultimately they asked me to fillup free look cancellation form, and said I'll get my refund within 10 Days. let's see what happens next.

Thank You Guy's for helping me out.

Got my refund on October 2nd.

once again thank you.