[Resolved]  Max Life Insurance — Policy number[protected]

Address:

Chennai, Tamil Nadu

Dear all Before surrendering this policy[protected] i verified in your customer care and after knowing fund value and necessary documents required for surrendering the policy i went to the branch and given all documents and ecs cheque for surrender. The operation department has got all from me and given me the acknowledgement also...and intimated me that it takes 10 days to reback my money.( happened on 3/3/2014). 2) Today 8th day i called up the customer care and asked the status of my policy, they said it is declined and i have not paid 2 ATP`s. I was very much upset because in this pension plan there is nothing mentioned in surrender have to pay 2 ATP`S. More over this is unit liked plan with 0 DB. 3) Why your operation people in branch not intimated this on the time of surrender, same to customer service . The IRDA has clearly said in unit linked plan if the policy cross the 3rd year, it should be accepted for surrender ( there are some plans differ for 5 years surrender) But my policy documents said 3rd, 4th and 5th year we can surrender. 10 to 30% surrender charges as applicable as per surrender year. How can a life insurance company can reject the unit linked plan ...that too a pension plan just like this, i want clear explanation and surrender the policy.