[Resolved]  Kotak Life, Policy No. 00536382, Client Id : 50 450161 — CHEATING AND NO RESPONSE TO VARIOUS EMAILS

IN SPT/OCT.2006, I RECD. REPEATED PHONE CALLS FROM SOME MR. SHARMA OF KOTAK LIFE FROM DELHI, ASKING FOR LIFE INSURANCE.
AS I WAS A RETIRED PERSON, I DECLINED FOR ANY LIFE INSURANCE AND TOLD THAT I WOULD BE INTERESTED IN ONE TIME INVESTMENT O[censored]PTO ONE LAC OF RUPEES WHICH SHOULD GIVE ME REGULAR RETURNS.
THEN NEXT DAY HE PHONED ME THAT HE HAS COME OUT WITH A PROPER SCHEME FOR ME WHERE I HAVE TO INVEST Rs. 1, 00, 000/- ONE TIME ONLY AND HAVE TO STAY INVESTED FOR THREE YEARS AND I WOULD GET MINIMUM OF15% TAX-FREE RETURN, BUT THE ACCUMULATED WOULD BE RECD. ONLY AFTER THREE YEARS. FURTHER THERE WILL BE ADDED ADVANTAGE OF INSURANCE ALSO.
I AGRRED TO THIS SCHEME AND HE SENT HIS REPRESENTATIVE AND GOT MY DETAILS AND SIGNATURE ON THE FORM AND COLLECTED AN A/C PAYEE CHEQUE OF Rs.1, 00, 000/- IN FAVOUR OF KOTAK LIFE INSURANCE.
AFTER ABOUT 2 MONTHS I RECD. POLICY DOCUMENTS WITH A RECEIPT OF Rs34, 940/- WITHOUT ANY MENTION OF MY BALANCE Rs.65, 060/-. THEN I SENT EMAIL TO THEIR CUSTOMERCARE ASKING ABOUT THE DISCREPENCY. THE REPLY WAS THE BALANCE AMOUNT WAS CREDITED AS "TOP-UP" FUND.
I FURTHER ENQURED WHAT IS THE TOP-UP FUND AND WHAT RETURN YOU WOULD GIVE ON IT?
THE REPLY WAS ON THAT ALSO THE SAME RETURN WOULD BE GIVEN AS PROMISED.
SO I GOT SATISFIED AND LEFT THE MATTER THERE.
NOW AFTER TWO YEARS, THEY ARE REPEATEDLY PHONING ME FROM DELHI, NOIDA, MUMBAI ETC. THAT THERE IS DEFFICIENCY OF SOME 2500/- OF RUPEES AND AS I HAVE NOT PAID IT, THE POLICY HAS LAPSED!
I HAVE SENT OVER 10 EMAILS IN LAST 8 MONTHS ASKING THE EXPLANATION BUT ALL HAVE FALLEN ON DEAF EARS. NOBODY HAVE CARED TO REPLY A SINGLE EMAIL PROPERLY.
MY SIMPLE QUESTIONS ARE AS BELOW.
1. I HAD MADE IT VERY CLEAR THAT I WAS INTERESTED IN A ONE TIME INVESTMENT OF RUPEES ONE LAC ONLY AND I HAD ALREADY DONE WAY BACK IN 2006.
2. WHY THEY HAVE NOT CALCULATED ANY RETURN ON THE BALANCE AMOUNT CREDITED WITH THEM AS PROMISED BY THEM?
3 IN ONE OF THE EMAIL, I CALCULATED THE RETURN ON MY BALANCE CREDIT AMOUNT WITH THEM AND SHOWN THAT THERE SHOULD BE STILL CREDIT BALANCE WITH THEM EVEN AFTER ADJUSTING THE THIRD PREMIUM. HENCE THE QUESTION OF LAPSING THE POLICY SHOULD NOT ARISE.

UNFORTUNATELY EXCEPT FOR THE SELF-GENERATED ACNOWLEDGEMENT FROM THEIR CUSTOMERCARE THAT THE REPLY WOULD BE MADE WITHIN 24 HOURS, NO REPLY HAS BEEN RECEIVED FOR MY 10 REMINDERS !!

I MAY ADD HERE THAT I HAVE BEEN RECEIVING REMINDERS ON PHONES FROM LOWER RANK PEOPLE WHO SEEM TO BE AFRAID OF GIVING THE PHONE NUMBER OR EMAIL ADDRESSES OF THE HEADS OF THE BRANCES. ONCE SOME SR. PERSON TALKED TO ME ABOUT PAYMENT BUT WHEN I EXPLAINED MY CASE HE PUT DOWN THE PHONE AND NEVER AGAIN TALKED TO ME.
ONE OF THE JUNIOR MEMBER WHILE REMINDING ME AGAIN FOR PAYMENT, HE TOLD THAT SOME SORT OF CHEATING HAS BEEN DONE WITH YOU WHILE BOOKING THE POLICY AND THE SR. PERSON HAVING REALISED THAT, DOES NOT TALK TO ME DIRECTLY.