Rti act ..irda
Querist :
Anonymous
(Querist) 06 January 2012
This query is : Resolved
i have a great feeling that one MNC in insurance did cheat on people in the modus of selling different product by modifying conditions from the approved one by irda. it amounts 1000 of crores. so i raised one request with irda to send me the approved product details. instead they sent me revised sales litterature. as i am not happy with it i appealed it with appellate authority. it was almost 40days. there was no reply.
i want to prove that the insurance company has been indulgng wrong sales and violating all norms.
please advise me.
ajay sethi
(Expert) 06 January 2012
visit the website of the company . it must be containing details of various products offered by insurance company . you can make enquiries with said company that you wan to buy a product from said company . the copany will send its representaive along with all details . scrutinise the same
Querist :
Anonymous
(Querist) 06 January 2012
the company has sent in house circular 3 times in 3 phases and incorporated the rules in the policy bond as other wise. company it self indulged in cheating. so to establish that before a court of law , i need the approved specs of product from IRDA.
already the sale of that product was closed by the company. now i would like to have advice on how to get the details form IRDA. the cpio of irda has sent me some other details. i want approved specs of that product.
Shonee Kapoor
(Expert) 06 January 2012
IRDA can only send the framed rules.
If they are flouted by any company, you can complain and the said company would loose its license.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad
(Expert) 07 January 2012
IRDA is the best remedy so knock its doors and get the timely solution as citizen charter has been applied there.
mahendrakumar
(Expert) 07 January 2012
Are you talking about the misselling of an Insurance company or an Insurance Broking firm?
generally,no insurance company do that against the IRDA directives,as it will affect their existence and credit.
how can you say that they have collected 1000 crores?
If you could be specific in your query with details,we could assist you properly
Deepak Nair
(Expert) 07 January 2012
Please get a copy of the policy booklet from those who have availed the policy. and mathch the same with what you go from the RTI application and point out the same to IRDA.
Querist :
Anonymous
(Querist) 07 January 2012
Dear all,
tnx for reponses.
1. its an insurance co.
2.i dont know on what specs it did get the approval of irda.
3.but, company while launching the product issued product circular.after 4 months..it repeated the same circular.later just before the closure of the product it modified the conditions. to be more precise, company from top to bottom encouraged that regular premium product to be sold as single prem. first they didnt mention charges . later in the 3 rd circular which was issued just before the closure had the mention about that charges. i feel that company deliberately did it. repercussion are heavy and in some places some agents committed suicides as the 100% customers are losing money heavly. to say all these i have documentary evidence.
my intention is to get the specs approved from irda and then compare it with co product ciruclar...then establish how it floated rules..
Devajyoti Barman
(Expert) 08 January 2012
Yes, first follow the advices as made above..
mahendrakumar
(Expert) 09 January 2012
you may be talking about product literatures/sales brochures?
usually other circulars are for the internal use of the companies.
it seems that you are an employee or agent of the company.
anyhow if you can prove the mismatch the policy conditions in the policy bond and the product circular/product literatures,you could take up the matter with the IRDA as well as raise a consumer complaint as "it" is an unfair trade practice too.(publishing something and practicsing something else)
Querist :
Anonymous
(Querist) 09 January 2012
dear Mahendra kumar ji..i am working in that company. company stealthily did involve all field force and duped them. almost Rs 5000 Cr was collected .now agents are suffering. they are in very bad shape. company circulated product circular diffrently and later at the closure stage it changed. i have all the documentary evidence with me. now if i complain it to IRDA ,they may slap a fine of some 10 lacs or so and ignore. i want that every indian should know how they indulged. it should be befitting reply from the customers.
mahendrakumar
(Expert) 11 January 2012
could you clarify the difference as per the two circulars?
are you talking about the "ULIP"policies?
whatever,it is,unless full details are known,no meaningful advice could be given.
