Kotak Life Insurance Complaints & Reviews

This side Palak Anand from Yamunanagar. I had a ULIP policy going on with Kotak Life Insurance. I surrendered the policy on July 9th and before that I updated my new bank account with them. Their services are so poor that no operations manager was available whenever I was visiting there and after several visits I got updated my new bank account and even confirmed many times with them to know that I will get my claim amount into the new account...

I am Subhodip Pandit and i want to deactivate my agent code from IRDA PORTAL. I have sent mails to IRDA however I did not get any response from there. My agent code is KLI60941112 and my Pan no is DBVPP8608C. I got a job in an insurance company but am not able to join there due above mentioned issues.
Kindly help me to cancel my agent code.
I'll be obliged to you....

Hello,
Nadiya here
Please Remove my pan number in irda site

Pan -CPQPP5953N

Pls, remove my pan urgent basis.I'm not working in the agency but my pan no. is at irda site kindly remove it quickly . Facing alot of problems.

Hopefully, you'll solve my problem as soon as possible.

Thanks
Nadiya Parveen...

Dear team,
My name is shiva Verma, my agent code is 60892635, I submitted all my documents to the branch to get the code closed.I want NOC, because noc will submitted in new organisation, pls help me, it's important for my future, but kotak life insurance group doest not support me
Thanx and regards
Shiva verma...

The company has misselled a policy no 09414860, the Branch manager and other attendees of new friends colony sold this policy stating she would get a return in 10 years after paying every annually.

The return in this one takes place after 20 years. My mother would be retired in 1 years, how would she pay till 10 years and expect a maturity after 20years?

We have been following up with them since the LOCK UP...

They gave a demo and made us to join as advisor.They did not say that advisor will be terminated within 3 years.I did not get my commission for this year...

I have been an employee of Kotak Life (AC Market, Shakespeare Sarani Road, Kolkata) for 1 year now.

These people call up desperate jobseekers under the false pretext of a job profile called Team Development Manager, which is actually chain marketing for their policy business.

I was coerced to complete my sales target in 1.5 months instead of the official "3-month training" time wherein, I also had to sell a Health...

Sir,
i have a kotak life insurance policy[protected] having premium of rs.6646/-, just now i have paid the premium through my bandhan bank debit card, but have not recived the premium recipt and niether it is showing in the kotak lic portal..
Kindly help

regards
gopal saha...

Dear Sir / madam

my proposal number is[protected] vijay bhawani) please cancel my proposal policy ..

Reason - your bad service . i was paid policy premium om 7th of march ( 13 days before ) my medical not Done yet . now i cant trust on kotak insurance .

Kindly cancel & Refund my amount in urgent basis withount any Default ( in 3 days ) .becouse i buy to new policy from other company .i hope you...

Policy no. 03975321, Client id 68210386. Client Name - Mandar Sinnarkar

Hello,
I was supposed to get Rs. 15565/- on 5th March as yearly money back from this policy. But this now year till now I did not receive money till today. When checked with Local Pune office, I understood that payment was rejected due internal mistake at Kotak.
I am suffering because of your mistake & lost interest for 10 days till today...

Client Id: 53661913
Kotak Second Innings plan
When took the policy was informed Policy Term is 18 years, however, was also informed that I need to pay only for 3 years compulsory. After 3 years, no need to pay. For Surrender was told that after 6th year, no surrender fee and full fund value will be redeemed.

As per policy conditions and clause, this was accurate so agreed.

But since the 4th year,...

Respected Sir,

Jai Hind. This is bring to your kind notice the malpractices being followed by Kotak Insurance. Please be informed that we had initiated a policy with Kotak Insurance in 2015. We deposited Rs. 3.4 Lac for about three years. Thereafter we requested to cancel our policy & return back our entire amount since we were not in a position to invest. After following them for almost 2 years they returned back Rs. 1.96...

Respected Sir,

Jai Hind. This is bring to your kind notice the malpractices being followed by Kotak Insurance. Please be informed that we had initiated a policy with Kotak Insurance in 2015. We deposited Rs. 3.4 Lac for about three years. Thereafter we requested to cancel our policy & return back our entire amount since we were not in a position to invest. After following them for almost 2 years they returned back Rs. 1.96...

Policy no 02721964
I had Paid Rs 50000 in the said life insurance of Kotak only 29/03/2013 vide receipt no [protected]
I have not received the policy nor the amount invested till date...

I have reigned from KLI on 2008. Since then i have applied so many times for my EPF. Still i have not received my PF as on date. emp id ..OM11779...

I received a call from person called amlan jyoti chakravarty +[protected]. From kotak mahindra, sunny towers, ballygunge, kolkata. Same story: don't have to sell anything, you are part of administration department, need to visit office only on saturday for conducting interviews. If you recruit an investor, 5% of the investment is the commission. A monthly fixed amount of rs. 40, 000 is guaranteed. Have to take a training of irda. Today...

My self antony joseph l, i took policy years an ago and i received a call from branch of kotak life insurances - pla. Plaza, 3rd flr, above maruti showroom, municipal office road, trichy, tamil nadu, 620001. Mobile number [protected]. She's said said we will not refund your money 100% we are financially lock down and now we don't have a money to pay a renewal amount. Kindly take an action against on kotak life insurances trichy. We are earn...

Hello

Today i have personally dropped message to biplob goshami kotak life insurance manager on his mobile number few minutes back, he informed me he need two days time to find out as he is busy in month end closing great answer i do accept he is busy with month end but if it would have new policy he would have answered to all my queries.

Now i want you to know the actual story on february month i got many calls...

Kotak has once again done a fraudulent taking money
Policy confirmation number [protected]

I was told the claim would not happen because of not completing 2 years

That means if issue happens within 2 years we will not get the claim

During the time of sale there was false information given by their own kotak insurance team saying everything can be claimed after 90 days

This...

Hello team,

My policy # 09744340

My health is currently not fine i am down with migraine issues which in turn leads me to other health hazards due to the tensions i am taking at my work place and hence decided rapping up all my financial policies and accounts as i am in need of cash am going to quite my job. I would be very grateful if you guys can do something to have my premium which is paid out so far given...

The company said that I should pay 10000 pr year till 10 year after that year in the 11th year my money would greater than the fixed deposit.
Now in this 11th year the company said that because of market issue the value of the money hasn't increased and are me the same amount as paid by me in these 10 years without any additional amount. Even my total amount is 1 lac but the company is giving me only 90700 by decreasing the amount....

I have taken kotak assured savings plan in year 2018 by paying annual premium of 1, 20, 000. I was told i will get 10% on yearly basis & after 15 years i will get good amount so i though 10% is a good return. But after 03 months i shown it to 01 of my c. A friend he told premium has to paid for 10 years & how come insurance will pay you 10% till 15 years. Than i confirmed with sales executive than he told me 10% will be given after 10 years...

Dear Ms. Shradha chavan / Ms. Kalparupa Datta / Mr. MuraliKrishna,

Greetings of the day!

As per the telephonic conversation with your telephone executive Mr. Sanjay, we realised that there's an huge dispute and fraud happening in our policies done with kotak life insurance.

Above are my policy details which I have taken from kotak way back, wherein the conversation I had with you agent was very...

I am Subodh Bhandari
I have took kotak policy on dated 31/5/2017.
My policy No is 09638149.
Kotak assured saving plan
After 4 month i have realise that policy term and constions are not fullfield to me.i took this policy for my daughter Saavi (3yr old).but the life was insured of Subodh n nominee was saavi...it was just reversed.life insured should be done of saavi..i complaint to manager but no solution came....

I regret taking a policy in may, 2008 for 10 yrs from kotak as there systems are so downgraded/not up to the current standard i do not want anyone to purchase any of their products.

1. I was not able to login to their portal for 7 yrs. To make a payment.
Have to visit their branch every quarter to make payments for 7 yrs. Hours
& hours of money/time wasted on calls. Also picked a guy from the
Indranagar...

I am Anil Kumar Choudhary.
I have took kotak policy on dated 18/5/2015.
My policy No is 03232573.
After 1 years i have realise that policy term and constions are not fullfield to me, as commited by the manager, he forced me to tok policy.he is not explain that time properly.after i contact him he is trasfered to another bank.
I called to kotak bank insurance customer care.
They said you have to complete...

I have been forced to pay for a plan that i did not authorised. Your agent promised me different plan and kept me in impression that i am paying for the plan i have authorized. Next day, i called for receipt and then got the information of this payment i made. Its completely a different plan which the agent did not inform. It was done from west bengal branch and currently im located in delhi. I want an immediate re-imbursement of my payment...

I have taken kotak life insurance money back plan in 2011 and paid almost for 5 years now, my policy was in lapse mode so i requested to major revival and also requested for mode of ecs change, i visited personally 5 to 6 times to indiranagar branch to fill both the forms. I gave cheques also for premium however neither my forms were scanned and sent to head office nor my premium were paid by cheque. I did not get single sms or call from...

Dear sir,
Today (29/01/2018), i have surrendered my kotak mahindra policy no 03139180, after payment of 3 yearly payment each of rs 15000/ (Aprox.). I have communicated to the company to stop ecs as i am going to surrender by e - mail. But to my utter surprise the 4th payment of rs. 15000/- was debited from my account even after surrender of my policy which is a deliberate cheating. Hence i request you to return the whole amount...

For anyone looking to take a policy with kotak please be warned, they run an elaborate fraud. They never disclose any details regarding the performance, investment or any other details. You can chase their worthless customer service any number of times, they simply don't care. Kotak's motto should be not "faiday ke insurance"", rather"fraud ke insurance". Have you ever seen any investor getting 2.7% return over a period of 15 years on investment...