Subject: Non giving basic amount I paid
My Name: RAVI THAKKAR
My City: RAJKOT
My State: GUJARAT
My Complaint Against: edelweiss tokio life insurance
Complaint Category: Finance & Investment
Claim Amount (Approx.): 33000
My Complaint Description:
I have taken policy in edelweiss tokio life insurance in FY 2012 policy no 000434337E and paid premium till date is Rs. 55812.
In Aug-16 i have taken loan of Rs. 23500 and due financial difficulties i unable to pay interest on loan which is 4 to 5 thousand approx.
now i stable in finance condition and i contact branch that i will all your dues, but they given reply that your policy is auto surrender because of you have not paid loan amount and interest.
there is some basic calculation that I have paid Rs. 55812 and and taken loan of Rs. 23500 only, they are saying that surrender value if only 30% of premium paid.
they are saying now we cant renew your policy and not to give any amount
in this case i have to bare a loss of Rs. 33000/- i cant get my investment i does not require any return but my investment amount is also not get able
hence kindly help me in this case i am belong to lower middle class family and cant bare this much loss.