RISHI MUCHHALA 01 August 2022

insurance refund

I had taken an insurance as a security against a LOAN. i foreclosed that loan before due date.
My insurance company informed me that refund will be given directly to the company who gave you loan and they intern will disburse you.

I am following up with company via email since 2 months. They confirmed receipt of money from insurance company but are not giving me.

what legal action can I take?

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2 Replies

Advocate Bhartesh goyal (advocate) 01 August 2022

Issue legal notice to company and demand insurance refund and if the company does not comply with notice than file suit for recovery of refund amount against company.

Sidhhi 01 August 2022

It's really very pathetic how law abiding citizens are fleeced and fooled by insurance cos. I would suggest you to take up the matter with IRDAI (complaints@irdai.gov.in) as well as Insurance Ombudsman. Hope it will work and will be cost effective. You can also register with My Grievance App and register your complaint.