Kotak Smart Advantage — Mis selling by the agent

Address:

Delhi

dear sir,
I had taken Kotak Smart Advantage Plan (Policy No. : 01754827 Name Mahesh arora) by seeing Brand Name of Kotak Group by investing monthly 1,000/- since 27/10/2009. But, we are totally frustrated with the behavior and approach of Kotak Life Insurance Company which we have been never seen in our whole life, this kind of responsibilities and irregularities. They are trying to cheat us since 27, Oct 2009 when I purchased this policy.

At the time of purchasing that policy (Oct, 2009), the sales executive (Mr. Naveen #[protected]) of Kotak had given all wrong information and said that after 3 years, if you want then you can withdraw your policy and get your all invested money with good return (1000 * 36 months=36,000 + Good % of return) (I have purchased this policy due to this feature only which is told by the executive, and I had paid 1,000/- per month since May, 2009 to May, 2012). And after 3 years, I had been called and mailed to Kotak Life Insurance Customer Care he said that your one year invested money will be gone into Kotak Account and it will not given to you, I will get only 2 years invested money with 2% deduction also. I was totally shocked. This is ridiculous. Therefore, I am totally mentally, physically and financially harassed by the Kotak Life Insurance Company and decide to surrender the policy (Policy No: 01754827, Name:Mahesh arora).
When I said that your sales executive had misguided us regarding the policy and given fake/wrong information then Kotak’s representative said that it is not Kotak’s responsibilities for their sales person/team or executives and you should verify the things. It means there is no accountability and responsibilities of Kotak about their plan and policies and their Sales Executive’s. All the responsibilities and loss paid by the Customer only!!!


I am in big trouble now I want urgent money for purchasing new flat.

Please do the needful.

Mahesh Arora([protected]@yahoo.com)