Complaint Details

Status	:	Closed
Complaint No	:	0015352/2014
Category	:	Insurance
Date	:	14-03-2014
Subject Line	:	Personal Pension Plan 139402
Complainant	:	Aravind S
Address	:	Sri Ram White House C2 504 6th Main R T Nagar 2nd Block
Complainee	:	HDFC Standard Life Ins. Co. Ltd
Address	:	No.9, 2nd Floor, Esquire Centre, Block 2a, Beside Axis Bank, M G Road, Bangalore - 560001

Complaint Details
The policy was bought through Union Bank of India (Agent of Ins.Co.) The duly discharged policy was handed over to the Bank on 3.2.2014.
The vested sum of above policy amounting to Rs.1,59,339/- was due for payment on 05.03.2014. The Insurance Company is delaying the payment.
They are yet to credit the sum to my Bank A/c. I was telephonically informed by their CRM (M G Road branch, Bangalore) on 6.3.2014 that they will be deducting penalty equivalent to 1/3rd of vested sum as I have not opted for their annuity scheme.

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