Arjun sinh – asst. manager , delhi (09210923663) assist SBI life policy with only 3 yrs lock in period and widthraw all money and gauranted bonus, but now company say that it is 15 yers lock in period and it is Money Back policy, so compulsary pay premimum up to 15 yrs of yearly Rs. 50,000.

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  1. I have invested substantial fund in SBI Life ULIP. In July 2011 I submitted my withdrawal form to take back the money at great loss. They calculated the money I will get, accepted the form. A couple of days later the rep called me and said the withdrawal form has since changed, so I should submit a new form which I did in some 10 days with the request that I be paid at the rate on which I submitted the surrender form. A few days later I got a mail saying my application was declined. Ever since I am running after them writing mails, but all I get is an auto response that they will respond. I wrote to the Ombudsman, but no acknowledgment. I keep writing and they keep quiet. Can anyone suggest what should I do? I am stuck with good money with them. I have never imagined that an institution as SBI Life could do something like this. Thanks, Kurien V.

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