complaints | Scams, Frauds and Reviews.
Recently Posted Complaints
Send Email
Fraudulent Insurance Advisors
Respected sir/madam,
Consider the below numbers and see how Financial Advisors in Insurance Industry can damage Indian Economy.\r\n\r\nTotal Financial Advisors in Insurance Industry - 10,02,149 (LIC) + 250000(approx Private Insurance advisors) = 12,52,149\r\nTake 1% of them doing this fraudulent activity - 12,52,149 * 1/100 = 12521 agents\r\nConsidering each agent like Bikram Parida has done money laundering with 25 customers in a year- 12521 * 25 = 313025 customers\r\nConsidering each customer has paid an average ticket size of 10000/- = Rs. 313,02,50,000\r\n\r\nI\\\\m really not able to imagine this loss to customers and as a whole to the Indian Economy\r\n\r\nMy Policy details are given below:\r\n\r\nApplication no: 66753\r\nProposal No: 6645\r\nAgent Code No: 118473M\r\nBranch: CB 18\r\nDO Code: 83864\r\nPolicy No: 645683969\r\nPolicy Date: 28/12/2009\r\nPremium: Rs.16847\r\nPlan: Jeevan Anand (with Profits & with accident benefit)\r\n\r\nI\\\\ve given Rs.16847/- in cash to Mr.Bikram Parida (Agent Code 118473M) in the month of December (28/12/2009). I\\\\ve received the premium receipt and policy documents also.\r\n\r\nBikram Parida has been introduced to me by Bima Deals Online Insurance Portal. They had a very good video recording about BIkram Parida on their website. It is the social and moral responsibility of Bima Deals to scrutinize and then enroll Financial Advisor. This Agent Bikram Parida was supposed to be a fraud and non ethical person. He has been absconding from LIC services. refer website\r\n\r\nI went to LIC Branch near AG Office, Telephone bhavan for paying renewal premium and they told that the policy is in Suspension mode due to Cheque dishonoured. I told them that I\\\\ve paid first year premium in Cash mode and I\\\\ve received the policy documents also. They informed me to get in touch with the Branch office at Musheerabad.\r\n\r\nOn 16/12/2010, I went to Musheerabad LIC Branch office and met the Branch Manager Mr.Gopikrishna. He told that already few customers have complained about the Agent and that the agent Bikram Parida is absconding from April 2010. The branch has also complained in Gandhi Nagar Police station for an investigation on the Insurance agent. Branch Manager is telling that there is some money laundering done by the Insurance agent. Branch Manager\\\\s response seems not satisfactory. He speaks as though he cannot help out in this case. That is not expected from a Branch Manager level.\r\n\r\nI\\\\ve not received any intimation on cheque bounce or Suspension status. When I enquired to Branch Manager Mr.Gopikrishna, he is telling that we will send you soon. After one year of suspension only LIC is acting on sending an intimation to customer. Very pathetic handling of accounts.\r\n\r\nKindly bring some Regulations on LIC Financial Advisors\r\n\r\nI\\\\ve also submitted a complaint at IRDA Office on 20/12/2010. Why no response from IRDA?\r\n\r\nIs that IRDA also taking this complaint very lightly. Like me so many customers are cheated by LIC Advisor Bikram Parida & Branch Manager Gopikrishna or Is that like Telecom Scam there is a huge scam in Insurance Industry also..\r\n\r\n\r\n\r\nKindly do the needful.\r\n\r\nthanks & regards\r\nMadhusoodhan B\r\n+91 9652311108
Post by bmadhu2008
More complaints
Post your Comment
Your Full name:
Your E-Mail adress:
Your E-mail is invisible to others
Your attitude for Complaint:Agree Neutral Disagree
Comment text:
Confirmation code
Not a Mamber Yet ? Register
Follow Us
Follow merareviewcom on Twitter
Consumer Complaints | Submit Complaint | View full list of Companies | Latest Complainzts | About Us| Terms And Conditions | Contact Us
If you have any constructive thoughts, creative ideas, or reasonable offers, please, contact us immediately via E-mail