[Resolved]  Kotak — mis-selling and fraud

Address:

North West Delhi, Delhi

I and my father has taken two policy 3 years back from KOTAK. Now my father is in use of money and when we approached kotak insurance we found that it was totally different terms and condition what you people have said earlier.
Firstly, I can withdraw my policy after 3 years with full amount of money if I want to, but now they are saying there will be an exit penalty.
Secondly, I can withdraw my first year deposit as it can only be withdrawn after maturity and the term is 20 years.
This is really pathetic on part of KOTAK insurance, when your agents were selling policy they told us I can completely withdraw my money anytime after 3 years.
I have trusted on this bank and had two policy and third one in name of my brother which i started recently, but it is really very depressing as I have lost Rs 50000 on my policies.
It is really kind of fraud which insurance companies are still playing by telling different conditions at the time of selling.

Aditya Kanodia
policy Number is - 01911467

Krishan Gopal Kanodia
policy number[protected]


Aditya Kanodia
EMAIL : sgaditya.[protected]@gmail.com
PH NO : [protected]