i invested Rs 50,000 with SBI 3 years back. That time the agent(who himself is an SBI employee in the same branch) informed us wrongly about the policy, which according to him was single premium, but was actually an annual premium insurance policy. We unknowing that this policy was an annual premium invested just once as single premium, which resulted in lapse off, and now I am incurring a loss of RS 8,000. We even received letters from bank saying that our annual premium was due, when we took that letter to the bank manager, he told us to ignore the those letters.
Details of Bank:
Bank: State Bank Of India
Branch: Jogial, Pathankot, Distt. - Gurdaspur, Punjab.
Amount Invested: Rs 50,000
Date of investment: 28-Jan-2008