Home Bank & Finance National Life Insurance clients suffer immensely
Bank & Finance - July 11, 2021

National Life Insurance clients suffer immensely

Non-payment of claims

Golam Mostafa Jibon:Allegation has been intensified that National Life Insurance has now become involved with harassing its clients in context of issuing original receipts or ORs (premium deposit receipts) against deposition of premium money and payment of insurance claims.
Anwarul Haque, an official of the company’s Gangni Organizing Office under Chuadanga Zone has submitted such a complaint with the Insurance Development and Regulatory Authority (IDRA) seeking action. Though, the chief executive officer (CEO) of the National Life Insurance Kazim Uddin has declined the allegations of harassment in paying insurance claims and giving ORs to insurers, a good number of such allegations have also been submitted to the concerned authorities demanding remedy in this regard.
Kazim Uddin said, “Insurer harassment allegations against National Life Insurance are completely false and baseless. We alleyways pay the highest insurance claims to the claimants. Our ‘first-year premium’ is the highest because of paying the insurance claim properly. We have no dues of any claim.”
He further said, “We have paid the claim of Tk 726 crore in 2019. I have paid Tk 800 crore in 2020. The claim of Tk 500 crore has been paid so far of this year. In the allegation submitted to IDRA against National Life, Md. Anwarul Haque mentioned that, huge anomalies, corruption and mismanagement are tarnishing the images of insurance industry, but the insurance industry is definitely better than other companies.”
The complainant said, renewal premium money of the customers is deposited in the office. On the same day, the accountant deposits the money in the bank and at the end of the month withdraws all the money from the main bank of DD’s check zone for OR. But, he uses the money for personal purposes instead of OR. He basically manages the money in different ways after seven to eight months or even a year and gradually starts to make OR of the money.
When, insurers come to the office without OR copy against their deposits, they face various types of problems.
On the other hand, insurance workers, who work in field levels, are forced to leave the profession with mental stress due to such irregularities.
He further complained that, monthly work releases are not given properly. As per example, he said, Md. Minarul Islam (FA), who contained the code No. 245218, had been worked for an amount of Tk 7,05,798 till December in 2019. But, he was given the bill of Tk 4,59,897. The bill of rest Tk 2,45,901 was not paid to him. He also received the money after a long harassment for over four to five months.
Anwarul Haque also said, “The money against the death claim is given to the claimant after so much harassment and long time delay in which the claimant is compelled to make rude remarks about mass- insurance.”
As per example he said, all necessary papers of Nargis Ara, who contained the policy No. 5601688-7 in Gangni of Meherpur, were sent to the head office through zone office on November 9 in 2020 after her death.
Although, seven months have already passed, her relatives are yet to get the money of death claim. SB vouchers and SB checks were not given to the insurer on time. But, there is a provision that the death claim will be paid by highest 90 days.
Such as- Md. Shahajed Ali, who contained the policy No. 5600878-5 was scheduled to receive SB on March 20 in 2019.
Faruk Hossain, who contained the policy No. 3901911-2 was scheduled to receive SB on December 30 in 2020. The two regular depositors are yet to get SB vouchers and checks.
This employee of National Life complained that, if there is any complication over the customer’s money deposits and non-OR, it is left in the unequal sector without informing the customer.
As a result, the insurer or claimant is deceived. But, all FPR and PR copy have the customer’s mobile number.
With the complaint, the information of 50 customers’ premium money deposit and OR have been highlighted. It can be seen that some customers have received OR after one year of depositing money.
When asked about the allegations regarding the late OR, the CEO of National Life Kazim Uddin said, “The allegation is not true. The customer might have not been paid the premium on time. If, someone fails to pay the premium on time, the policy is lapsed automatically.”

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