[Resolved]  Kotak Insurance — Miss Selling of Policy #01962458 and request to cancel/refund the same

Address:

East Delhi, Delhi

Dear Sir/Mam,

This is to bring to your notice that policy #01962458 was sold to me based on fake information and projection of the amount growth by Apoorva Insurance Brokers Pvt. Ltd.

I was provided with some documents and an excel sheet (in email) having the calculation of the projected amount which I’ll get at the time of maturity (Annexure 1, page 1 to 5 attached). Premium allocation charges were not communicated to me at all and were not reflected in the excel sheet as well. I was told that this policy can be surrendered after 4 years and I can stop paying the premium from 3rd year onwards. Based on this the amount promised to me was Rs. 1,20,000/- at the end of 4th year. Also it was told to me that returns in this policy are guaranteed.

However just now I noticed that premium allocation charges are deducted as per the policy bond.
I have been cheated and based on the above grounds I would request you to cancel this policy from immediate effect and refund all amount with interest paid to Kotak Life Insurance by me.

This issue was earlier reported to Kotak Customer Care ([protected]@kotak.com), but I’ve not received any response so far (Annexure 2, pages 1 to 2 attached).

Looking forward for a positive response and request you to take legal action against such agencies who are putting the goodwill of Kotak at stake.