Demand for interest on delayed payment by SBI Life

I had availed a life insurance product from SBI LIFE INSURANCE CO. and the same matured for redemption on 1st June 2016 vide Policy No 86000050906 They had asked for various documents which I had sent much in advance – in fact – I started the correspondence with them before 10 days of maturity. After a long and hectic correspondence with them – I received a cheque addressed to my old employment address – inspite of the fact that I had given a change of address and which was duly recorded by them in their records. After a long and serious haggling I received the cheque after almost 45 days and my account was credited on 20th July 2016.

This shows their gross negligence, inefficiency and lack of customer service awareness. They also have the audacity to mention in their letter that if I do not pose a query within 8 weeks the matter will be closed – as if their action is foolproof and totally ethical. I have demanded a compensation of Rs. 7073/- towards harassment, overdue interest and costs.

GOWRISHANKAR KASI NAGARAJAN
DASARAHALLI POST, BANGALORE 560057, Karnataka
Email: gxxxxxxxxxxxm@gmail.com
27.34.243.10 / 13/11/2016 / 7:46 pm

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