[Resolved] Max Life Insurance — Surrender amount is very less

Ekta Bali

from Rewari, Haryana

Address:

Mumbai City, Maharashtra

I have a policy with max newyork life insurance, and while opening the policy on 24th May 2011 I asked agent(Rajan kumar Nair - 377980 ) if in future I want to surrender the policy, i sit possible and her told me, there is a locking period of 3 ears and after that you can withdraw the policy anytime.He di not tell me any charges will be deducted. I am urgently in need of money and so, I called up Max life insurance customer care, and they are telling me that I will et 30% of my investment and that too I wont get the money I paid in 1st year. If they want they can deduct th interest, but atleast return the amount I have paid.This is a fraud.

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Aug 14, 2020

Complaint marked as Resolved

Max Life Insurance customer support has been notified about the posted complaint.

Jul 10, 2014

Updated by Ekta Bali I have a policy with max newyork life insurance[protected], and while opening the policy on 24th May 2011 I asked agent(Rajan kumar Nair - 377980 ) if in future I want to surrender the policy, i sit possible and her told me, there is a locking period of 3 ears and after that you can withdraw the policy anytime.He di not tell me any charges will be deducted.
I am urgently in need of money and so, I called up Max life insurance customer care, and they are telling me that I will et 30% of my investment and that too I wont get the money I paid in 1st year. If they want they can deduct th interest, but atleast return the amount I have paid.This is a fraud.