- This topic has 2 replies, 3 voices, and was last updated 1 year, 5 months ago by
.
Viewing 2 reply threads
-
Posts
-
-
UHello everyone,
I need advice regarding a tricky situation involving an insurance policy my late father took out under my name. The policy was with Shriram and had an expiration date in 2027. Unfortunately, due to nonpayment, the policy has been cancelled.
My father had already paid ₹800,000 towards this policy, and now it seems that money might be lost. I’ve reached out to Shriram directly, but they’ve informed me that nothing can be done to recover the money since the policy is no longer active.
Given the circumstances (my father’s passing and the cancellation), I’m wondering if there are any other steps I can take:
Is there a way to escalate this within the company or through regulatory bodies?
Could any legal options or consumer protection laws apply here?
Has anyone dealt with a similar situation and managed to get their money back?
Any guidance, resources, or advice would be greatly appreciated. I’m feeling stuck and don’t want to give up without exploring every possible option.
Thanks in advance for your help! -
UIn 2016, my father faced a similar issue with Shriram Chit Funds. He was on a 5-year plan, where employees would collect monthly payments from our home before app payments became common. For over two years, a specific employee collected payments regularly. However, we later discovered that he hadn’t deposited the payments for four months.
Despite our efforts, we couldn’t recover the money. Through connections, my father learned that this employee had done the same to over five others, with theft totaling ₹1 lakh in a nearby town. Shockingly, he was transferred to our town despite the company knowing his history. The branch manager was also complicit.
The company tried to force my father to pay the dues, but he hired an attorney and refused, as we had all the necessary records, including cheques and bills. Eventually, they were forced to waive the dues for us and others. However, those involved in the fraud were simply transferred to another branch and remained employed.
don’t trust the employees and always maintain proper payment records. Hire an attorney.
-
-
Viewing 2 reply threads