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Ing Vysya life insurance / CHEATED BY THE COMPANY

1 India Review updated:
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I joined ING VYSYA LIFE INSURANCE freedom plan paying $10, 000(Rs 4, 44, 000). But I was awarded only Units numbering 23, 632. The unit price was Rs 11.00 and I should get more for the amount of Rs.4, 44, 000. I enquired with ING and found they have taken and paid commission fee of more than Rs 1.5 lakhs to the agent who got me into this program. ING VYSYA LIFE done this to me without my permission or knowledge. When I asked to return the amount, ING declined my request. ING have not mentioned the commission amount clearly in the The terms and conditions.

So please do not go/purchase any products or services of ING LIFE VYSYA as you will also be cheated.

I am writing this on everyone's benefit and guidance.

Thank you.

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  • Jl
      23rd of Nov, 2007
    0 Votes
    ING Vysya Life Insurance - Non issue of insurance policy since 27-June-07

    Dear Sir,

    I have submitted a sum of Rs. 50,000/- on 27-June-07 against cheque no. 819036 to get the Life insurance policy as per the documents handed over to me. Afterwards, my medical examination has been conducted twice, but till today i have not been issued any policy and dont know where my money has been utilized. I had a frequent talks with branch manager (Yamuna Vihar Branch, Delhi) who is also unable to give me any satisfactory response. Everyday i have been told that the policy is being issued from the concerned department but all are laim excuses.

    Similarly this happened with my wife's case where the bank utilized 50,000 Rs for 6 months and she has been issued policy after long fight.
    We assume that this is ING Vysya's regular practice and it should be highlighted on public news and television.

    Awaiting your immediate response.

    J.L. Sudhir (09810056849)

  • Sa
      4th of Dec, 2007
    0 Votes

    I have taken the ingvysya life insurence. But even after 6months I have not received any papers or acknoledegement.

    When I tried to contact the sales manager, he is keep ontelling the it has been send to my address, but I never received.

    I keep on mailing for all id's(including helpdesk) in their site, but never get any reply.
    I tried to contact with the customer care, he will redirect the call to sales department.

    Before going to invest in "ingvysyalife" make call to customercare, you will never call to that number again.

  • Sa
      4th of Dec, 2007
    0 Votes

    I ma also facing same problem.
    I have invested on June 30 2007. But till now I have not received any documents.

    I keep calling and mailing to all the id's and numbers avialable in therir site.
    But of no use till the date.

  • Mr
      15th of Apr, 2008
    0 Votes

    I also felt the same type of behaviour from themabout two of my policies better to take care of our money when in vesting with suchcheating people.

  • Ma
      22nd of Sep, 2008
    0 Votes

    Even I am a victim of the malpractices by ING Vysys Life. They are really bad, careless, adament, unprofessional, and what not. In fact if the complaints against them accumultaed, they are the right candidates for unfair business practices. should be kicked out of India. Our national companies are much better than these international *********.

  • My
      20th of Mar, 2009
    0 Votes

    Check their product brochure better for details. I think they deduct allocation charges like every other life insurance company. If I am not wrong their website will have all details around the same. I checked it and for the mentioned plan it was around 45% of first year premium.

    If you were not told this, possible that your agent sold it wrong to you. You should always check the Insurance companies literature before deciding to believe your agent.

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