Sachin Raut VS Bharti AXA Life insurance company limited

S

sachin_a_raut

New member
Policy Name
Aajeevan Anand
Company Name
Bharti Axa Life Insurance Company Ltd
Customer Care Number
1800-102-4444
Loss Amount
600000
Ratings
3.00 star(s)
Opposite Party Address
Unit no 601 and 602, Rahega titanium,Off western expressway, Goregaon,Mumbai 400063, Maharashtra,India
Dear Sir, Ma'am,
Myself Sachin Raut,I had purchased
Policy : Aajeevan Anand , policy number: 500-8029869 from Bharti AXA Life long back 14 years ago.
Last year one of the Sales representative (Mr.Rakesh Shinde) from Bharti AXA approached me and fraudulently sold me another policy 504-3209104, stating
based on my original policy's "500-8029869"
total investment amount every year premium (for this new policy) will be received from this original savings. Later on he processed the personal loan against this original policy which I was not ready and denied,then he had communicated that I don't need to pay any intrest on this loan. Intrest will be adjusted against agent commission. Accordingly I had followed up with insurance company and advised them to cancel the policy and waive me the intrest portion by closing the loan.
But company is denying to waive the intrest,I am not happy with the treatment I have received from company,I am a policy holder with long period of time of 14 years of this company. Still fraud was happened with me and now when I chase for my refund of premium paid since last 14 years they are not replying on that part. It is like mental torture, financial amusement of customer who is constantly with company from last 14 years.

Kindly accept my complaint against Bharti AXA Life insurance company and provide me the justice
 

Attachments

Section 1
PUBLIC WARNING | INSURANCE FRAUD ALERT
This post is being shared in public interest to protect policyholders—especially senior citizens and vulnerable families.
Rakesh Shinde (Contact - 9892123212), a former Bharti AXA Life Insurance agent, was terminated from the company following multiple fraud-related complaints, as per available records. It is alleged that he misused confidential customer data obtained during his association with Bharti AXA and deliberately targeted aged and financially stable policyholders who were less likely to question transactions.
1) Alleged Life Insurance Fraud Practices | Based on complaints and evidence shared by affected policyholders, the following acts are alleged:
2) Collecting policy renewal premiums and diverting the money instead of crediting it to the original policy
3) Issuing new insurance policies without the policyholder’s knowledge, falsely presenting them as renewals
4) Policy churning—forcing surrender of old policies to generate fresh commissions
5) Forgery and misrepresentation of signatures, income, and declarations
6) Mis-selling with false promises of “guaranteed returns” and bonus benefits
7) Unauthorized use of customer data to identify and manipulate senior citizens
These actions, if proven, amount to serious violations of IRDAI regulations, data privacy laws, and criminal statutes, causing financial loss, emotional stress, and long-term damage to innocent families.
PLEASE SHARE THIS POST to protect others from falling victim to such alleged practices. Awareness is the strongest defense against insurance fraud.
Legal Disclaimer: This post is shared in good faith and public interest based on complaints and available information. All allegations are subject to investigation and legal adjudication.

Section 2
Public Awareness | Insurance Fraud Alert
This post is to bring attention to a serious case of insurance-related fraud involving Mr. Rakesh Shinde (9892123212). At the time of the transactions, he was working with Bharti AXA Life Insurance. As confirmed by Bharti AXA’s Vashi branch, he was terminated approximately four years ago due to multiple fraud-related cases.
My late father, Mr. Vijay Jamsandekar (passed away on 11 September 2025), was one of the victims. Over time, trust was built, after which ₹10.50 lakhs were collected via cheque (in favour of Bharti AXA) and approximately ₹5 lakhs in cash under the pretext of policy renewals. Instead of renewing existing policies, new policies were issued without proper disclosure, and eventually 12 policies were found to be lapsed.
Further, a total amount of ₹43 lakhs was committed as receivable, which was never paid. After repeated follow-ups, all communication was blocked.
Call to Action (Industry & Public):
1) I urge insurance companies, intermediaries, brokers, and advisors to not associate or engage with this individual in any capacity

2) The financial services industry must collectively boycott such individuals to safeguard clients and uphold ethical standards

3) Members of the public are requested to exercise extreme caution and avoid any dealings with this person

4) Please share this post to help prevent others from becoming victims
Legal Disclaimer: This post is shared solely for public awareness and consumer protection, based on facts and records available with me, and is not intended to defame any individual or organisation.
If anyone found him please inform flowing contacts

We are searching him as where he works and resident. Kindly contact flowing number to give information about him.

Pushkaraj Jamsandekar
pushkarajjamsandekar@yahoo.com
9082473706
 
Hello @sachin_a_raut

Every company offer 15 days free look period, You must read all the TAC with in this period and if you are not agree with TAC you can cancel it any time.

As its more then 15 days, we can not help you in this matter.
 
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