Reliance Life refunds Rs60,000 in a suspicious transaction: Another Moneylife success
Dr Verma had purchased a Reliance Life plan with the lure of an interest-free loan. After running around without any success for six months to get the promised loan and then to get the policy cancelled, Dr Verma fortunately got justice within two hours of Moneylife’s intervention
Many customers are receiving fraudulent calls offering them an interest-free loan of Rs10 lakh from Reliance Capital when you buy a Reliance Life policy of Rs1 lakh premium.
raised this issue, Reliance Life replied to Moneylife
stating, “The calls were made by spurious callers, it is a menace faced by the industry, and it is not part of any mis-selling. They even added that the industry has sought help from the EOW and we, as Reliance, have also filed over 170 FIRs against these spurious callers.”
Reliance Life’s response to Moneylife points to an article in the Times of India which assures us: “These complaints have not made much headway since there was no transaction.” Well, this is not entirely true. Moneylife Insurance Helpline has received one such case which was not only...