[Resolved]  Kotak Life Insurance — NON REFUND OF PROMISE AMOUNT

Address:

Ludhiana, Punjab

Dear Sir

My brother in law has two policies with Kotak Life insurance.Policy no is 01288731 fvg Raj kumar aggarwal and 0128867 fvg his Mrs Sapna Aggarwal of dt 17/09/2008 and 18/09/2008.After payment of premium for three years we are really surprised to know the fund value.After paying 1.50 lacs fund value is nearly 96000/- and other policy after paying 75000/- fund value is 45000/-.The insurnace company told us that they are not investing first year premium but as per plan KOTAK SMARAT ADVANTAGE which indicates 110 percent return of the investments in the future inspite of the investment in securities.What a fruad with customers and IRDA has no control over these activities.Hard earned money of the customers they have taken with such carelessness.

They say to us to countinue policy for ten years what a gurrantee that they will give us even our invested money.How a customer bear such huge loss.Actually the companies committed something and giving something to customers.

Please look into matter otherwise as per clause of policy make the payment as we want to take payment after three years with such low leval committment company.If you are unable to do the things then we have to approach to IRDA and higher authorities at legal leval.

please contarct at [protected],Email [protected]@sify.com

CA SURINDER GUPTA
FCA