SWARUP CHATTERJEE filed complaint against Edelweiss Tokio Life Insurance Company Limited on May 27, 2025
In the year ****, * policies were mis- sold to me by some persons by telephone. It was told to me that they are from GBIC. The policies issued that time are as follows.
*. Bharti Axa (*****/-) as policy port in the name of myself
*. Edelweiss (*,*****/-) as NOC in the name myself in March ****
*. Edelweiss (*****/-) as GST in the name of my brother(Premium paid by me) in Sept ****
*. Edelweiss (*****/-) as GST in the name of my sister in law(Premium paid by me) in Sept ****
*. Edelweiss (*****/-) in the name of my brother(Premium policy loan) in Sept ****
*. Edelweiss (*****/-) in the name myself in January ****
*. Edelweiss (*****/-) in the name myself in March ****
I have no concern with Bharti Axa policy(matter resolved by Bima lokpal).
For policy no. *,* &* It was told that I do not need to pay premium the for *nd time. After few months I realized that it was a big mistake when they stopped picking up my calls.
Next year(****) I receive call from Edelweiss as my premium was due for the policy no.* and I decided to pay another premium to save the policy because it was not possible for me to continue for ** years. So I paid the *nd premium in quarterly basis and left it in paid off. Other * policies (no.* & *) became lapsed, as no premium paid further. In between my brother used to receive call from Edelweiss branches in Kolkata(He lives in Kolkata). Every time he told agents the actual situation and how these policies were issued.
In August **** my brother again received call from Edelweiss Kolkata Salt lake branch that to pay premium for policy no. * & * so that money that paid can be saved. When He explained everything, the agent got my mobile no. from him and called me. I refused her to pay any premium as it was not possible for me. Then she offered me that money will be arranged from policy no. * which was in paid off and premium will be paid for lapsed policies(no. * & *). I told her that I didn’t want to surrender this policy. She told that a loan will be taken only from this policy. As she she was an employee of Edelweiss I agreed. The document needed was shared through whats app only, I never met her nor visited branch, I live in Faridabad. I never signed any documents or forms also. After few days mail received from Edelweiss that my loan is approved, though no written request was given from my side and after few days I received loan amount of around ******/- in my Account. Then she asked for aadhar, pan and personal details of my brother and sister in law. I provided those through whats app only. Then one new policy(No.*) was issued in the name my brother. When I asked she told, as the policy no. * were in lapsed condition, a new policy is opened , the amount of the old policy will be transferred to this new policy account and no need to pay next year and return back total amount after * years. Every time she convinced me saying she is an employee of the policy company her boss was also convinced me. Regarding policy no.*, they told that money will be refunded.
After that I used to ask them is this ok what they have done? They told everything is OK, have faith on them. In January **** another policy was issued in my name(No.*) saying some amount is still there and to use it properly and they will arrange next premium by taking loan again to pay *nd premium. After *

I am very pleased with Voxya. They helped me resolve my issue without much hassle. Very impressed and satisfied.
- Preeti Anandan

I got my refund. You guys have really helped me when I needed it the most! Thanks again for your help :-)
- Abhijit Dhote
File a Complaint today and let our
experts help you in taking
legal action and getting resolution.
Related Complaints
I K.Prabhudhan Reddy have been cheated by Edelweiss Tokio Life Insurance agent. I have asked for a single premium policy to support for my daughters wedding in ****, but the agent has cheated me with annual term pre...