Complaint Details

Status	:	Closed
Complaint No	:	0003385/2013
Category	:	Insurance
Date	:	21-02-2013
Subject Line	:	Non Disclosure of Real Fact in Policy Documents
Complainant	:	Binu Varkey
Address	:	Vaniapurackal House, Ericadu East, Puthuppally.P.O.,
Complainee	:	AVIVA Life Insurance
Address	:	Second Floor, Swapnil Enclave, Opposite Joy Alukkas Wedding Centre, Marine Drive

Complaint Details
The Indus Ind Bank in association with AVIVA insurance company forced me to take up three policies JSG1539377, JSG1535992 and WTG1621676. As per the information provided to me by AVIVA and Bank officials who visited my home while taking the policy, stated that the policy will be made paid up after paying premium for three years. I had completed three years in may 2010. When I requested AVIVA to make the policies paid up, they responded that the same cannot be done and I need to pay premium for complete policy terms of 15 years for JSG policies and 20 years for WTG policies. If I pay the premium for the whole policy term in case of death or permanent disability the company offers me the Sum assured or fund value which ever is higher. At one point of time during the policy term the premium paid by me will be greater than the sum assured. No where in the policy document has it been stated that what will happen when the Premium Paid is greater that the SUM Assured. The answer AVIVA gives is all risk in the policy is to be at the risk of the insured.

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