My name is Seema Sunil and I wish to register a complaint against ING Vysya Insurance Company.
I feel I am cheated by the “many” wrong information given by ING vysya team and they continue to give wrong information even now. I do not trust them anymore and wish to withdraw the Pension Policy I hold with them. They have caused so much inconvenience to me and never kept their promise, hence I am apprehensive whether I may have to run around in my old age for my retirement benefits which in turn would be my “Worst Years Retirement “ because of the “Best Years Retirement Policy”
Please find below the details of the grievances -

• 17 Jan 2011 - I had taken a Lifetime pension plan named Best Years Retirement from ING on 17^th Jan, 2011 (Policy # 02070679). I was told by the sales people that I can opt this by paying a minimum of Rs 1000/- per month which can be done as an ECS too. I agreed to pay a monthly payment of Rs 3000/- for a period of 15 years since I was convinced by the sales people. The sales guy also convinced me to pay a 6 months premium at that time mentioning the tax benefits for the Financial Year and I paid a cheque for Rs 18,000/- on the same day as I was told that though it is on monthly payment mode, I would have to give an advance payment for 6 months. Alongwith the payment, I gave an ECS form and a blank cheque for Rs 3000/- to be debited from my account starting first week of July 2011 onwards. I specifically told the need of the monthly ECS debit in first week of every month starting July. I got the policy document which mentioned it as payment on “annual mode”. When I checked with the sales guy, he mentioned that the same will be corrected from July, 2011 when monthly deduction would happen. After which , I dint get any call from them and I presumed that things are fine.

• 12^th May, 2011- I called them to check on the date of monthly instalment debit and realized that the

previous cheque given was rejected due to signature mismatch by ICICI Bank. I was asked to issue another cheque and ECS form. The representative promised to come and collect the new form from me (I checked with ICICI in July, 2011 and was informed that no cheque /ECS rejection has happened from the bank).As expected, the sales guy who “trapped’ me into this had moved out of ING and the person who came along with him in Jan, promised to help.

• 30^th May, 2011 – After repeat calls and sms to ING representative between 12^th May and 30^th May, the representative finally collected a new ICICI canceled cheque #299048 and an ECS form from me. I told them to get back with the correct date of debit as I wanted the amount to get debited in first week of every month starting July, 2011

• June, 2011 – The sales guy never got back to me with the date of debit

• 4^th July, 11^th July , 21st July - 3 sms sent to the ING personnel and everytime with a confirmation that they will get back to me with the exact date. I made a call to them on 4^th July as the monthly instalment did not get debited. Even after weekly call/sms reminders, nobody bothered to get back to me. Finally on 20^th July, I had lost my patience with them and told them to visit me personally

• 22^nd July – ING representative Mr Arun came along with Mr Eby, who claimed to be my Relationship Manager. Yet another shock for me, when they told me that they need another cheque and ECS Form. I refused to do so as I completely lost trust with ING team and told them I wish to withdraw the policy. Then comes more shockers like I should have informed them in 15 days of policy issuance if I wish to withdraw it. (Never in my dream/ sixth sense in Jan, 2011, did I foresee that I will have issues with ECS etc which happened in May, June, July). I clearly told them my decision and they said they will check if something can be done. I told them that all these while I had to follow up with them and they never even contacted me for 6 months from policy issue informing any kind of issue regarding my ECS!. I mentioned that if they don’t get back to me in 24 hours, I will escalate this to higher ups. They got back to me same evening saying that I don’t have to issue new cheque, but with no answer as to when would be the debit date. I gave them another 24 hours. As expected, nobody got back to me till 27^th July .

• 27^th July - With no response from ING, I had to sent a message to ING people mentioning “If I have to follow up so many times for the Pension plan now, I may have to run around at my old age for my pension returns”. There comes another reply that he will get back on 28^th July

• 29^th July – I had no other choice than escalating complaint to the ING Corporate office and Mr. Balakrishnan (VP- Sales, ING Vysya Insurance, Kerala). (The email correspondence is being attached)

• 12^th Aug – Mr Sudhir and Mr Sreehari of Kochi ING office visited me in my office. Another “shocker “ informed by them that this particular policy do not have a monthly payment mode and it only has an annual/quarterly payment mode. I still am not able to understand why the sales team gave me a wrong information in Jan, 2011 and never bothered to correct it during my follow ups with them in May, June, July. They did not inform about this even when they visited me for a new cheque in May!!

Based on my complaint and request to withdraw policy, I got calls from Ms. Nayana Prabhu (Corporate complaint cell) and Mr. Sudhir (ING, Kochi office). After 2 weeks of registering the complaint, even surprised that they closed my complaint stating ECS is active from August and they cannot do anything to give me the refund of 18,000/- . I wanted a mail from them to document the same as to how much an Insurance company can screw up and play around with the hard earned money of a common man. Needless to say, they haven’t given an email reply! I have already informed ING team not to debit the monthly amount of Rs 3000/- now, as I would not want to put my savings in the hands of some “unprofessional, insensitive organization”. I have received a revert from ING that they have forwarded my ECS cancelation to the concerned department on12th August, 2011.
Since, ING has already done enough and more goof- ups, I called my bank to ensure that the monthly instalment does not go to ING in Aug, 2011. Here comes another shocker, ING has sent request for ECS for 1) 18000 to be debited from my account in Jan, 2012 as well as 2) monthly instalment of Rs 3000/- starting Aug, 2011!!! Now, what do I call this organization ??? “CHEATERS” is going to be an underestimation for them!
Does ING intend me to pay a 3000/- per month as well as an 18000 per year!!
Respected Sir – I would be more than obliged if you could help me to get out of this BEST YEARS TRAP and live a peaceful life. I request you to help me withdraw my hard earned Rs 18000/- and get me 100% refund.. I would definitely not want to lose our any single paisa from my investment and for the harassment they have done, I would want a compensation too.

Requesting your kind self to provide a favourable reply at the earliest. The complaint has been given to Insurance Ombudsman already, however, there seems to be a delay in actioning the same. I would want the amount to be given back to me by ING before 18th Jan, 2012 (and i dont want any reminder from them asking for the next premium)

Thanking you,

Seema Sunil