[Resolved]  Kotak Life Insurance — free look policy

Address:

Ferozepur, Punjab

Dear Sir,
This mail is in context to a complaint against Kotak Life Insurance Co. Ltd. This is to bring to your knowledge that I purchased a policy under policy no. 01915107 with a half yearly premium amount Rs.13,000 bearing risk cover of Rs. 200,000 from an agent of Kotak Life Insurance Co. Ltd, Moga Branch. It is basically a ULIP policy with a term of 15 years. Many facts regarding the policy terms and conditions such as it is a market linked plan, that it has a term of years were concealed at the time of filling the proposer form. I was mislead by the agent ( who said that the policy will have a risk cover of Rs. 20,00,000 and the payment term is three years which will have a gauranted return benefit. He assured me that my amount will be doubled by the company after five years and all this will be stated in the policy bond itself.
As per the policy bond, my policy got issued on 08/03/2010 but I received the policy bond after nine months dated as on 14/12/2010 when it got lapsed. As soon as I got the policy bond, I visited to the Moga Branch as on 16/12/2010 for the Free Look Cancellation of the policy and got it processed (a scan copy of the Company official's receiving of the policy bond is attached with this mail) and discussed the issue of misselling with the Branch Manager. I haven't received the refund cheque of my policy yet. For this purpose, I've visited the branch almost twenty times. Despite helping me sort out my problem, the Branch Manager harrassed me by saying, " I've no concern to what my agents do and the direction my company is moving into."
In such a terrific situation, you are my last hope. Kindly resolve my problem at the earliest.
Thanx & Regards,
Sanjeev Kumar
Narang Mobile Store
Old Talwandi Road
Near Nokia Care Centre
Zira Punjab-142047
Mob. No. [protected]