Poor and inefficient services rendered by SBI Life Online E-Shield Insurance.

I had applied on line SBI E-Shield life Insurance for my wife. But SBIlife insurance has refused to accept to issue policy while my amount of Rs. 5332.00 yearly premium was paid by using my Bank of India Credit Card. Till not now neither the policy got accepted nor the amount got credited. Still remains doubt!!!!!!!!!!!. They want this amount to be paid only by SBI Credit Card or Debit Card not from other Credit Cards.
This is illegal as per IRDA circulations.

Pl do not believe such on line services/promotions. more

Helpful Connected Consumers Mar 22

Viewed by 1166

View all 9 comments Below 9 comments

Rakhi Chand

Best solution is - 1. Ask your problem through online/offline(postal) way with a 15/30 days dead line. Keep proof for communication. 2. whether the company comes under RTI, if us - use this tool. 3. Can go to Ombudsmen for complaint. 4. not satisfy by omb. then can opt for court. more

Mar 23

Gautam Kumar

Please send an email or call IRDA toll free number 155255. more

Mar 23

Nakkeeran Singaravelu (Career Guidance -to School students, Social service)

Mr Udaya Kumar: There is a clause called "Insurable interest" that is the payer can be husband/ wife or parents and children.Third party cannot pay the insurance. The issue you faced may be not with respect to which bank credit card, whether it was in your wifes name. Probably the computer program may be written such that to accept by the instrument only in the name of the policyholder. May be the insurance company shall to add the facility of paying from the the payer who has insurable interest Let IRDA and all the insurance co to make a note of it more

Mar 22

E V Krishnan

I was contacted by Star insurance for porting my health policy from HDFC Aegro and I did accept their offer and paid my premium of Rs 17000 plus. I was a continuous subscriber with hdfc for more than 5 years continuously. Star sent me a 1 page policy document in which they have not waived 2 years exclusion clause. I sent them email tò this effect but they hv not done any thing. since I had continuous insurance cover there should not be any exclusion applicable to me. dont know what to do. shall apply to grievance cell of IRDI or some other grievance cell. if anybody can advise me I shall b thankful. more

Mar 22

Narayan Garimella (Retired Scientist)

probably, SBI wants transaction from yoour wife'sname and her account or her credit/debit card. more

Mar 22

View 9 more comment(s)