[Resolved]  Kotak Life Insurance — Pathetic service of Kotak life insurance

Address:

Mumbai City, Maharashtra

On 25-06-14 i had applied for premium reduction with all the required docs, now even after 2 months and multiple times submitting docs and making payment of revised amount along with alteration charges the premium has not been reduced. Policy has lapsed and the paid premium amount is just lying as waste and still there is no communication from Kotak to resolve the issue. They are best in misguiding and totally irresponsible esp their underwriting team. They misguided me in filling of consent letter, i was told in beginning that my premium can be reduced till 15, 000, now after a month and paying the revised i am being told that it should be 30000/-. It's more than a week since i last talked to them and requested them to resolve it earliest as already about 2 months had passed and there is no reply so you can guess how responsible their customer service is. I mailed their grievances cell too but there was no reply. Leave apart the performance of the fund(which is also poor) even their service is pathetic. In this digital age their branch doesn't even have a contact number(bhayandar branch), for any small thing one has to visit the branch. What about the fund lying as waste in their account ? will they pay interest on it ? what about the loss i made as that money wasn't put into fund in time ? the frustration and time waste i had due to ineptness of Kotak ? It was a mistake from my side to have a policy with them, a mistake i hope not many people would make after reading my experience.