[Resolved]  Aviva Life Long Plan — MISUSE AND UNREPORTED CHARGES

Address:

South Delhi, Delhi

I am writing with reference to the policy no. LLG1204420 ( AVIVA LIFE LONG PLAN ). After Paying a total premium of 50000/- and a starting amount of 25000/-, I turned my policy as PAID UP.

Just recently I checked the transaction details of my policy ( sent by aviva) and was surprised to see deduction of various charges every month, for the last 5 years. I fail to understand these charges which addout to around 4000/- annum. At this rate in 5 years you have deducted UNITS worth 20000/- approx. And today my fund value stands at 33,000/- approx, after investing 75000/-.



These charges are cut without my permission and prior knowledge. EVEN AFTER AFTER 6 YEARS AVIVA FAILED TO GIVE ME ANY RETURN ON MY POLICY AND NOW THEY HAVE DEDUCTED A HUGE AMOUNT FROM MY PRINCIPAL AMOUNT WITHOUT INFORMING ME. I was told by my policy manager that there wont be any charges specially after making my policy paid up. But that all is a lie, When I went to the CP branch, I was told that the person has left. I was left stranded... Even the call center executives couldn't answer my questions and kept cutting my calls after putting me on hold.

Example :-
I paid 75000/- and turned my policy as PAID UP, Thinking I would withdraw after 10/20 years.
In the meantime AVIVA started deducting my units every month for their MISC charges...
Therefore,
INSTEAD of getting any return from my invested money AVIVA is deducting money from my principal amount.


So, instead of getting any money from them, in few years they would deduct all my units and my balance would be in negative and I would
end up paying them more charges.

I don't know what to do, to surrender my policy before they make the in-tire amount zero or to go to court.