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ADVOCATE DIMPLE JINDAL (Advocate)     20 September 2012

Cheated by insurance company


                        The Grievance Redressal Officer,

                        Kotak Mahindra Old Mutual Life Insurance Ltd.,

                        8th floor, Godrej Coliseum,

                        Behind Everard Nagar, Sion (east),

                        Mumbai: – 400022.

I “Dimple Jindal” s/o “Krishan Chand Jindal” am a resident of Barnala City. I have taken two insurance policies in June 2009 as follows.

1.      Vincy Singla (policy no. – 01633964) - premium 50000.00 per year payable for three years.

2.      Deepak Jindal (policy no. – 01633992) - premium 50000.00 per year payable for three years.

Regarding these policies, your sales manager “Honey Goyal” and your agent “Shelja Bhatt” and “Arun Bhatt” husband of “Shelja Bhatt” have told us to pay the premium simply 3 years and fourth year we will get refund the money.

The conditions which was told to me by your sales manager and agent as follows:

1.      I have to deposit the premium for 3 years. The term of policy is 3 years.

2.      You will get life cover for 15 years.

3.      There will be no expenses deducted from your fund value in any how case.

4.      I will get refund the money at the end of three year.

 When I receive the policy, I again ask from the agent that the term written in the policy is 15 years. They reply me that this is the timing of insurance cover. We have to pay the premium for 3 years only and we will get life cover for 15 years.

On the completion of three years, I surprised to get a mail from the company to deposit the fourth installment. I reply to the company that I have taken the policy for 3 years, then in spite of refunding my invested money to me, why the company is demanding fourth installment. I also ask about this from the agent. He told me that the sales manager have leave the company and I was also not aware the full facts of the policy. I will discuss the matter with the company and after that I will reply you. 

I have made my complaint to the company on 12th of July 2012, and after making complaint again and again, no resolution is given to me till now.

Now my problem is that, I have planned for the policy term 3 years only according to your agent and sales manager descripttion. You can understand my problem that it is very difficult to continue the policy for 15 years for such big amount. I didn’t know why your sales manager has done this mis-selling on wrong grounds?

Now your company is saying that if I will not deposit the premium for 15 years, then my first installment was forfeited.

Your company is also deducting some charges from the fund value. Which was never told by your sales manager and agent to us?   


Now after that I go to your Chandigarh office for the resolution, they told me that they can sale the policies and cannot help the customers in disputes. For resolution, I have to go in I.R.D.A or consumer court only.


Sir, I request to you again, please look in to the matter seriously and resolve my problem. I will be satisfied if you will convert the policy term in to 3 years as described by your sales manager and agent otherwise cancel my policy. I didn’t want to continue these policies.

Please give me resolution in reasonable time. Already I have made many complaints to you by email from 12th July 2012 onwards. But you have not resolved the problem till now.

Waiting for your reply and hope for the resolution,

Dimple Jindal,

(Husband of – Vincy Singla and Brother of – Deepak Jindal), – b-2/684,

Near old telephone exchange,


Email –;

Mobile - +919872578325; +919876130474


Cc: Kotak Mahindra Old Mutual Life Insurance Ltd. (Branch Office – Chandigarh).

Cc: Shelja Bhatt (Agent of Company). 

A copy of email is also send to all concerned persons.


 5 Replies

AYAN (WEB DEVOLOPER)     22 September 2012

have u made police complain?

ADVOCATE DIMPLE JINDAL (Advocate)     22 September 2012

The agent "Arun Bhatt" and his wife "Shelja Bhatt" are my friends. They have told that, "they are not aware of the facts while making the policies, otherwise they will never give me these policies. We all are cheated by the sales manager "Honey Goyal"." According to the "Arun Bhatt", "sales manager have left the India and got married with some body residing in America.". Now I am also confused, because to register a F.I.R against a friend is not good, because he didn't do this knowingly. I am trying to locate sales manager. Please tell me, can i get help from RTI, to get the residence address of sales manager or there will any other procedure to registered F.I.R. against sales maager?

Adv k . mahesh (advocate)     24 September 2012


i want to know have u enquired about the policy certificate  when you paid 1st premium because that certificate you cannot go forward

2nd thing the certificate will have all the details of the policy

3rd thing enquiry without the insurance company what is the procedure to take back the amount without cutting any amount


sumit123   04 September 2016

Although insurance companies have a fiduciary duty toward policyholders, many insurance companies routinely violate this obligation and cheat their customers is essay service legit

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     10 September 2016

If you have some complaints against insurers either in respect of your policy or claims, then you can get it resolved by following the set procedure. Policyholders who have complaints against insurers are required to first approach the Grievance/Customer Complaints Cell of the concerned insurer. If you do not receive a response from insurer(s) within a reasonable period of time or are dissatisfied with the response of the company, you may approach the Grievance Cell of the IRDA. 

The complaints need to be sent to the Grievance Cell of the IRDA. The Insurance Regulatory and Development Authority (IRDA) are responsible for addressing complaints filed by policyholders. Complaints against Life and Non-life insurers are handled separately. Please note that the Grievances Cell(s) responsible for life insurance and non-life insurance are separate. 

Only cases of delay/non-response regarding matters relating to policies and claims are taken up by the Cell with the insurers for speedy disposal. If the grievance is not redressed, insured are advised to approach the Insurance Ombudsmen.Only complaints from the policy holders themselves or the claimants shall be entertained. 

The Cell shall not entertain complaints written on behalf of policyholders by advocates or agents or any third parties.If the communication is done over e-mail, then the plaintiffs are requested to submit complete details of the complaint as required in the registration form. Without this, the Cell will not be in a position to register the grievance. 

In case the claimant is not satisfied with decision of Ombudsmen, appeal can be filed at the appropriate judicial forum like civil courts and consumer courts.You can also utilize the facility of tracking your complaints and action on the complaints made by you.For any details you can log on to or send a mail to or Dial 155255 (toll free) 

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