CONSUMER ALERT! - Reliance Life Insurance Life Insurance Plans average on consumer satisfaction level in its consumer report

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Consumer Report
The following is a consumer report of the Life Insurance Plans from Reliance Life Insurance Company Limited. It contains statistics of consumer complaints, consumer court data, consumer cases, customer criticisms, customer praises, consumer reviews and public interest in general about the product. This consumer report is only applicable to consumers in India.

Reliance Life Insurance Life Insurance Plans

Reliance Life Insurance Life Insurance Plans image

From Reliance Life Insurance Company Limited

In Finance > Insurance > Life_Insurance

Approximate Price INR .00

	14
(Rank out of 24)

Report Effective Date Feb 04, 2012

Daddy Says ''This Product is too new in our database to provide an opinion about.''

Consumer Satisfaction

2.58

(Very Bad score out of 10.00)

Reliance Life Insurance is an associate company of Reliance Capital Limited and is a part of Reliance. It offers a wide range of life insurance plans that include Reliance Term Plan, Reliance Simple Term Plan, Reliance Special Term Plan, Reliance Credit Guardian Plan, Reliance Special Credit Guardian Plan, Reliance Endowment Plan, Reliance Special Endowment Plan, Reliance Connect 2 Life, Reliance Whole Life Plan, Reliance Wealth plus Health Plan and Reliance Cash Flow Plan. It also offers Child Plans, Savings Plans, Investments Plans and Retirement Plans

Consumer Feedback

Public Criticisms

Public Praises

Consumer Complaints (Open)

Consumer Complaints (Resolved)

Consumer Complaints (Unresolved)

Consumers Interested

1642

CSL History

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Consumer Court Judgment Data*

Consumer Cases (Total Filed)

Consumer Cases (In Last 3 Years)

Consumer Cases Won by Company

30%

* As per National Consumer Disputes Redressal Commission

	Cases Won (%)

Consumer Satisfaction Levels for Features

Adherence to Regulations

After Sales Support / Warranty Support

Authenticity / Transparency / Ethics

Customer Friendliness / Loyalty & Promotio...

Professionalism / Qualification of Staff

Range / Selection / Customizability

Reliability

Safety

Value for Money

Consumer Satisfaction Level Summary

Consumerdaddy has no affiliation with Reliance Life Insurance Company Limited, any of its competitors, any consumer complaint redressal agencies, consumer courts or consumer forums. Consumerdaddy does not endorse or disapprove the use of its products and merely supplies data regarding consumer complaints, criticisms, praises, reviews and public interest in general about this product reported to us by our website customers / visitors. Data provided in this page is provided as is, without any implicit or explicit guarantees regarding its completeness, accuracy or reliability. Usage of this page must be strictly in accordance with the terms and conditions of the website. The words consumer and customer are used interchangeably in the industry, so consumer complaints can also be referred to as customer complaints.

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	Consumer Comments

Consumer Reviews and Complaints

Life Insurance Plans by Reliance Life Insuranc...
Complaint 9 Days ago by meriawa...	CSL 2.58
I have 3 policies 15500268,15499719 & 15500487 respectively under Super Invest Assure Plan of Reliance (Agent-Satyapriya Ghosh-Royal HRD Marketing) since 31/10/2009 for which I have paid Rs.6000.00 x 3 18000.00. I was mislead by their agent Rajiv Dey (9331077135) Somit Roy (8013183793) for this investment of 3 years you will get all benefits from Reliance and cumulative payment every month and I did received few small amount cheques. The last cheque of Rs.612.00 I have received on 24/05/2010 against Royal ID no.200839 and not received any thing for ID No.200841 & 200834 but received 1 sms from Royal my cell No.9836269205 saying that May month closing will be at June, but till today I haven’t received any further payment from Royal. And further I have paid second premium 6000x318000 for the 3 policies through net banking to Reliance under Transaction ID 2415920, 2412383 & 2406713 respectively. But latter I learnt from Reliance that I have to continue paying up to 15 yrs, which is not possible for me. Actually I have invested in this because of the regular monthly income from Royal as told by your sub agent Rajiv Dey. I want them to cancel and refund all my money.

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Life Insurance Plans by Reliance Life Insuranc...
Rated 0.00 10 Days ago by Anonymous	CSL 2.58
Worst!! the agents are not trained and they make all false promises and leave the company. Finally we fall prey!! End up loosing our money as you dont atleast get back the money that you have invested. Please dont buy them.... Please be cautious!! Leave aside the profit, you dont get back only 80% of the money u invested..

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 20 Days ago by HITESHS...	CSL 2.58
I received a call from their Delhi officer asking about one Money Multiplier policy. Since it was the third anniversary of Reliance they were offering one more additional feature like a mediclaim policy worth one lakh. Also if I pay another Rs. 2400 or 4800 I can get extra benefit of another 2 lakhs. Based on Reliance brand and the trust, I opted to go for the policy and purchased it during Jun 2011. An executive from Pune, came to collect the documents. He informed that I will receive the policy first and the mediclaim will be issued after 20 days. This is how they smartly avoided the free look period. When I received the policy document (policy number - 19073568), I found that all my details were wrong including my name. I also received a copy of my application form along with it. I found that it wasn’t my signature. They have given all wrong information and filled the application and signed it by themselves. I am no more interested to carry on with this policy. I feel cheated and I want them to refund my money immediately for their cheating act.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 1 Month ago by rajesha...	CSL 2.58
My family was cheated by Reliance Life Insurance Company and when I raised these issues to reliance head customer service, they are ignoring my emails. (Policy Number: 19190586). One of my fathers’ friends is an agent in Reliance Life insurance. When my father got hospitalized for 1 month, after that He somehow convinced my father to take one policy on the name of my younger brother (23 yrs) and he was told that he will get almost double the return in next 7 years. One bonus will be paid end of 4 years (1.5L) and another bonus will be end of term (3.5L + Interest rate). My father was not having any idea nor did he check the documents. Also he does not understand English. He had trusted on his friends blindly and took the Cash Flow life insurance plan on the name of my younger brother (23yrs) for 7 years by paying 51k / year. After 3 month, when I visited home town and then I was told about this scheme by my parents. When I checked the documents, I found mis-matching with the document content and the discussion what I got from my family. I was fully surprised to see such a costly and useless life insurance for 23 yrs boy on the basis of false commitment. When I discussed with reliance money agent, they started playing with words as usual. Here not only they given wrong information to my father and sold the policy also played with reliance brand as a trusted company. Everybody in my family felt cheated from this agent. I visited branch personally but I don’t find any kind of good response from bokaro branch manager. They started ignoring us once we visit the branch. They said it’s been already more than 3 month and you need to come on before 15 days of issue date to cancel it. I wanted to cancel this policy coz not only this was sold on bases of false commitment but also this policy is not worth for us. I called toll free number as well but they guided me to contact branch directly but I have no hope in this branch manager. I have decided to fight against this cheating / fraud until the issues is resolved else these guys will keep fooling people in the name of securing future.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 1 Month ago by mmokashi	CSL 2.58
Around mid December 2010, I (the complainant) got a call from an Ms Neha Sharma, who said she was speaking from Reliance life insurance. The policy that she told the complainant about, had a ONE TIME premium of Rs 1 lac, which would cover medical expenses upto 2.5L + 1.5(surgery) for family members, and had an assured return of around 2.35L after 5 years. It also provided death and accident insurance of 10L. I was also supposed to get back 20% of the amount back as commission. The complainant was to receive bond papers with assurance of the returns and the commission, 2 weeks after the complainant got the policy documents. Ms Sharma said that this was a special offer from Reliance. The complainant thought this was a good offer and decided to invest in it. Accordingly, Ms Sharma sent one person to collect the cheque at the complainant’s residence. The complainant was told to only sign on the form and the rest of the details would be filled by Ms Sharma.The details of the policy documents that the complainant received sometime around the 1st week of January were :Contract No : 18302895, Client Id : 78228463, Policy Date : 22-dec-2010, Paid by : ICICI Cheque No 72006 dated 16-dec-10. They Misleaded the advertisements and false representation, Cheating by giving false promises. The complainant got the policy documents somewhere around the 1st week of Jan, and found to his surprise that the policy documents the complainant received mentioned a 20 year regular premium plan instead of the ONE-TIME plan that was told over the phone. When the complainant contacted Ms Sharma, she said to not worry, this was just a “base” document, and the bond-papers that would come later had all the correct details. The complainant also received “check-up/confirmation” calls from Reliance, and when the complainant asked about the above issue, was assured that things were all right and the bond papers would arrive soon. However, the deadline for the bond-papers passed by and the complainant called Ms Sharma about this. She said there was a delay of a week and even this passed by. Then the complainant got suspicious and was also alerted by friends of fraudulent practices by insurance/investment companies. On 28th Jan, the complainant wrote an email to the customer-care dept of Reliance, and asked for an explanation. On Jan 30, they replied that there was no such ONE-TIME policy as had been described to the complainant, and the complainant should apply for cancellation. Accordingly on Jan 31st the complainant contacted the Reliance branch in Aundh and submitted the cancellation request on the 2nd Feb. However, Reliance has rejected the request saying that the 15 days free-look period for the policy has expired. The complainant has since been following up with the grievance redressal mechanism in Reliance, but to no avail. The complainant has also an audio recording of Ms Sharma selling the fictitious policy, and has sent this as evidence to Reliance. Any ethical organization knowing that their client has been cheated would have offered to cancel the policy. But not Reliance, they are still quoting the 15 days free-look period for rejection.In all this seems to be a well planned scheme within Reliance. They sell a fictitious policy over the phone, actually give an altogether different policy, keep calling the client and assuring him that things are ok, and he will receive further documents, so that he does not cancel within the 15 days period, and then the client is stuck with them. In this case Reliance have sold a 20 year plan, instead of the one-time promised, and the complainant’s entire money is gone, unless he stays invested, and paying 1 lakh each year for 20 years is definitely not the complainant wanted. I want them to rectify the defects immediately.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 1 Month ago by ssp	CSL 2.58
I have a reliance life insurance (Policy No. 18339348) Reliance Life Insurance - ( Cash Flow Plan) has been sold to me on telephone by Mis- Statement. By “RELIANCE LIFE INSURANCE -TPD" Mr. Rajkumar Khurana his Mobile No. was 990071129. He said this policy has 2 Lakh Medical Insurance for your family. He gave me quotation for medical life insurance. But When I have received Policy It has not Medical Insurance. When I came to know that He has cheated with me. I asked many time to Reliance Life insurance Customer Service about address of this Reliance Life Insurance -TPD they says visit nearest Branch, We have not get any response by nearest Branch. When I emailed to customer care service for cancelled policy. I have send letter of Cancellation to head office, but they have only two reply. "visit nearest Branch" "Free Look Period 15 days has finished." It is not my mistake it is their agent who sold the project wrongly to me. I want them to change the policy else cancel and refund the money immediately.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 5 Months ago by svsudhakar	CSL 2.58
Myself and my wife are Reliance insurance policy holders. Policy numbers are 18096697 and 18067038. The plan name is Reliance Traditional Super Invest Assurance Plan. We both separately invested Rs: 104,700 plus collection charges. Benefit statement given by Reliance people - Insurance coverage for total family. For medical expenses total family will get the benefits and medical card and we can file this document for income tax. After one year membership I can apply for loan without surety. I will be eligible for loan amount up to 50,00,000 lakhs. The document says it is a 20 years plan. Still I have not yet receive any medical card. The company told that they will give the bonus amount and then the insured amount. The loan benefits are not mentioned in the document. They told the free look period is 2 months. But in document it has been mentioned as 15 days only. I got the document only after 20 days of making the payment. I urgently needed 30 lakhs as loan. Regarding that I spoke to their executive Mr. Babu and Mr. Ravi. They informed me that they will arrange the loan. Now, they are not picking my calls. Now, we are not able to surrender it since the free look period is over. I have been cheated by these people Babu Adviser, Ravi Asst manager & Arunkumar branch manager. I want them to cancel the policy and refund the money with interest.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 7 Months ago by GAURAVH...	CSL 2.58
reliance policy advisors mr. sumit jain and mr. manish chandan had contct me on my mobile and explain to me the policy named "money multiplier plan "(policy number- 19066341) he said that the policy given to u is directly by company and explain me benefits like, I had to pay 30000/ per year and I guaranteed get 255000/ after 5 yrs. Agent commission 6000/ paid to me every year after my premium deposit, insurance of rs.300000/ and in case of accident death 60000, 1 lac mediclim given to me and two of my family members, I had purchased that policy by making trust of them and premium paid 30000 on date 16.06.11 when my policy started on 22.06.11 and when I get policy no I spoke with customer representatives, (client id - 80176228)I found that this was wrong benefits explained to me at that time. None of the benefits is true. When I tried contacting the persons they didn’t reply to any of my calls nor my mails. I want them to refund my money and cancel my policy.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 8 Months ago by VINOD1968	CSL 2.58
I had been fraudulently cheated by a Reliance Insurance Broker. My policy number is 18043789 77647261. The plan is Reliance Tradition Super Invest Assure plan. The said policy was given to me by the Advisor M/s SMC Insurance Brokers Pvt. Ltd. In this regard I want to state that I have received a call from Delhi asking me that I am a IRDA person (Mr.Ashish Malhotra – cell no.09990392459) and he offer me Rs.47650/- surrender value after cancellation of my Aviva Life Insurance policy (the actual fund value was Rs,14353/- at that time) on the condition of giving me Reliance Life Insurance policy of Rs.20,000/- and also agreed me commission 30% on the premium every year i.e. Rs.6,000/- I had accepted the said offer for get back my invested money in Aviva Life Insurance. But after my continuous reminder to him he never attends my call or replies me by any other communication till date. Now I realize that I have been cheated by the above mentioned Delhi Broker. Also it is very difficult for me to pay the next premium of Rs.20,000/- as already I had taken housing loan from HDFC Bank for 20 years and EMI for the same is Rs.7500/- p.m. I am a salaried person and my financial position is not that much to pay the said premium I am very much disappointed, frustrated and in great trouble now. I want the company to take immediate action against the agent and cancel my policy.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 9 Months ago by parulga...	CSL 2.58
I had taken the policy from reliance life insurance and the plan which I choose was money multiplier plan with policy Number D0499930. I had given the cheque of Bank of India dated on 27th of march 2011 to reliance for the 1st installment of that plan and the cheque number 236702 for Rs 15000, the only proof I had is the receipt for the amount I paid (Receipt Number RIFX0000649) and no further documents are given to me as a proof or even no person had contacted me about the documents. I have only one contact Number 01204XXXXXX named Rajiv the manager but he also didn’t reply to me. They told me that they will give my documents within 15 days but now it’s over 25 days. So I want the company to give the necessary documents or refund my money back as soon as possible.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 11 Months ago by jigarsh...	CSL 2.58
During October 2010 I received a call from Reliance Life Insurance Company, regarding their launch of new policy. Over phone, they specified that my mobile number has been shortlisted for a special policy. They explained me the policy as : For the first premium of Rs. 30, 000/- I will be eligible for Rs. 75000/- and later onwards Rs. 9600/- for each premium. Also for taking the policy directly from the Reliance company I will be eligible for 20% of commission, that is Rs. 6000/-. Ms. Soniya told me that I will receive one envelope of policy after 15 days of payment and second envelope after 60 days in which all the details, which is mentioned earlier will be written along with the commission cheque. Based on these, I got my policy number 18122596. After the mentioned due date, I called them for the second envelope for the commission. Till date I have not received anything other than the policy document. Then I tried to call Ms. Soniya, I was informed that she has left the organization. I was then co-coordinating with Mr. Ashok Jain (Assistant Sales Manager), who told me that my bond is on the way and I will get the commission cheque and the bond very soon. However today Mr. Pradeep Kumar (Sales Manager – Reliance Motinagar Branch, New Delhi) informed me that I will get only the policy and there is nothing else. I feel cheated by them. I want Reliance to refund policy money or provide me the said commission and other benefits.

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Life Insurance Plans by Reliance Life Insuranc...
Complaint 1 Year ago by brahams...	CSL 2.58
I have a policy of reliance life insurance, policy no is 14365516. But I have been cheated about my policy. The plan which your agent told me and I agreed on was different from the plan which he gave me without any information or my permission. I gave an application regarding free look cancellation of my policy in your Noida branch within 12 days of receiving my policy documents. But no action have been taken so far regarding my application and your employees are not helping me and are not even taking my calls. They are cheating me and are making me visit your different branches every-time I contact them. I want to back my all money from this type of cheater company. I want to get back my money from this type of company. I am tired of this behavior of your employees. So I kindly request you to look into the matter and help me in resolving my issue. Otherwise I will be forced to take legal actions in consumer court against your company and your employees. The persons I contacted are Imran Khan(customer service) - Canaught Palace branch, Delhi Deepak Railiya (RM) - Nehru Palace branch, Delhi But they did not help me and are continuously making me fool. I am kindly requesting you to help me and look into the matter as soon as possible because I am afraid that after 7 days I have to register a case in consumer court.

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Life Insurance Plans by Reliance Life Insuranc...
Rated 2.11 1 Year ago by Anonymous	CSL 2.58
I am observing from last 2 year from starting of my investment in Tips 1 that the site is kept unupdated from 1st of every month to 10th of every month . I have complainted on customer call no and by mail many times but the service department is not taking it seriously. I will be thankfull if any one can solve the problem Thanks Naresh Gupta 09810213372

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Life Insurance Plans by Reliance Life Insuranc...
Rated 2.33 2 Years ago by Anonymous	CSL 2.58
The problem I had with this company is that they delayed my insurance policy for over 3 months. Even after such a long gap I didnt receive the original copy of my policy. It was after making various trips to the office that i got to see my policy in my hands

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Reliance Life Insurance Life Insurance Plans

Consumer Satisfaction

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CSL History

Consumer Court Judgment Data*

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Consumer Satisfaction Levels for Features

Consumer Comments

Consumer Reviews and Complaints