Life insurance product?

Question

My Self Somanagouda S D i have took crop loan in bank kembhai branch on 2014, at that time manager told me to take LI product and he took dd of 12500 rupees, but he didn't logged in my policy, he kept my DD with him only for a year, he never intimated me about the issue, even i approached the branch thrice in the duration of 2014-2015, finally i told him to credited dd to savings account. i am OK finally i got my money, but my question is if something happened to me in the duration of 2014-2015 what he going to do with issue, because of his mistake i appeared loss of some tiny money... he is not fallowing the rules and regulation of IRDA, please go through the issue i have posted here!... Branch :  Dattu Ram TQ: Shorapure Dist: Yadagiri State : KArnataka

 

Answer 1

Dear Sir

It is absolutely incorrect to hold back fr such a long period for issuance of policy. You are correct that something wrong would have been it would have put lot of difficulty. If you have any written proof of having given the cheque for insurance policy you may write to Nodal officer of the Bank and also to IRDA who will assist you on the matter.

Uday Bhat