[Resolved] Kotak Life Insurance — regarding wrong information given to m both in pre sales and post sales | |
Hi, Name of the complainant : anantjit tiwari Address of the complainant : 249 y block kidwai nagar Kanpur E-mail: anantjit.[protected]@iflexsolutions.com Mobile [protected] Complaint individual Name of the insurance company : kotak mahindra old mutual life insurance limited Policy number : 01394200 Nature of complaint others Details of complaint : This is to state that I have been given some wrong and misleading information both in pre sales and post sales by my policy advisor – mr. piyush agarwal and deputy manager – mr vikas rai. I was told that I will get all my money (corresponding fund value +first year premium)whenever I Want my money(of course after three years and duly paying premium during this course). Due to this assurance only I took this policy .But when I got my policy document and read through it (after enrolling for this policy) I came to know that I won’t get my first year premium back until maturity. So I confirmed it to mr.piyush agarwal and mr vikas rai(now post sales) and again they assured me that I will get all my money back and I was not interpreting right information from policy document. So, I asked client service desk of kotak and they told me that I won’t get my first year premium until maturity. So I again asked to both of them (my policy advisor and deputy manager ) and this time they told me that client service people are saying wrong and I will get all my money back .At this point of time I was totally confused so I again asked client service desk of kotak and they suggested me to lodge a complaint against them.so I lodged a complaint against them at customer care of kotak . In between all this my free look period was gone Till the time I was convinced that I that I have been cheated my free look period was gone, this happened because my policy advisor and my deputy manager were constantly assuring me during post sales that I will get all my money back The complaint that I have lodged is in the attachment .i have sent it as a fax to customer care of kotak, for which no reply has come from their side . please find attachment After I lodged a complaint against them at kotak’s customer care mr. vikas rai (deputy manager) came to me and told me that he purposely gave me wrong information (post sales), this is the marketing strategy, if I tell u everything nobody is going to buy out policy and since your free look period is gone nothing could be done.he told me that I have no option except to continue with this policy . Please help . Sincerely looking for your reply Was this information helpful? | |
Aug 14, 2020 Complaint marked as Resolved | |
 4 Comments | |
Comments
Hi, I agree with you totally. I have also been cheated here in chennai in exact manner. In fact my case is little more complicated as they even convinced me to take three more policies, one for me and one each for my two sisters in middle of th dispute in the first policy itself. They had sacked the employee who booked my first policy then assured all help to rectify the mistake and pulled it to six more months.
My repeated escalations in between to various sources have all gone in vain without a single reply so far. Now I am contemplating to move consumer court for remedy. I guess these guys are all thugs and cheaters inside. pl. spread the word around and alert one and all about the fraud that these scoundrels are carrying out.
My repeated escalations in between to various sources have all gone in vain without a single reply so far. Now I am contemplating to move consumer court for remedy. I guess these guys are all thugs and cheaters inside. pl. spread the word around and alert one and all about the fraud that these scoundrels are carrying out.
Hi...Exactly the same thing happened with me in pune too. These guys should be dragged to court of law. Infact in my case bank employee made my false signature on illustration copy of policy document. Before couple of days i had written a mail to kli.[protected]@kotak.com, and now i am sending a written registered letter to them and later on will file a case with Consumer forum and a copy of case will be forwared to CNBC awaz and Times of India.
Old Mutual is a giant conglomerate money making machine. Their concern is not with people they propose to serve but with profits. Their customer service is non existent and their agents use unscrupulous tactics to sell inappropriate policies to the elderly.
http://old-mutual-financial-network.info/
http://old-mutual-financial-network.info/
kotak mahindra old mutual life insurance limited — regarding wrong information given to me both in pre sales and post sales
Hi,Name of the complainant : anantjit tiwari
Address of the complainant : 249 y block kidwai nagar Kanpur
E-mail: anantjit.[protected]@iflexsolutions.com
Mobile [protected]
Complaint individual
Name of the insurance company : kotak mahindra old mutual life insurance limited
Policy number : 01394200
Nature of complaint others
Details of complaint : This is to state that I have been given some wrong and misleading
information both in pre sales and post sales by my policy advisor – mr. piyush agarwal and deputy manager –
mr vikas rai. I was told that I will get all my money (corresponding fund value +first year premium)whenever I
Want my money(of course after three years and duly paying premium during this course). Due to this assurance only I
took this policy .But when I got my policy document and read through it (after enrolling for this policy) I came to
know that I won’t get my first year premium back until maturity. So I confirmed it to mr.piyush agarwal and mr vikas
rai(now post sales) and again they assured me that I will get all my money back and I was not interpreting right
information from policy document. So, I asked client service desk of kotak and they told me that I won’t get my first
year premium until maturity. So I again asked to both of them (my policy advisor and deputy manager ) and this time
they told me that client service people are saying wrong and I will get all my money back .At this point of time I was
totally confused so I again asked client service desk of kotak and they suggested me to lodge a complaint against
them.so I lodged a complaint against them at customer care of kotak . In between all this my free look period was
gone Till the time I was convinced that I that I have been cheated my free look period was gone, this happened
because my policy advisor and my deputy manager were constantly assuring me during post sales that I will get all
my money back
The complaint that I have lodged is in the attachment .i have sent it as a fax to customer care of kotak, for which no
reply has come from their side . please find attachment
After I lodged a complaint against them at kotak’s customer care mr. vikas rai (deputy manager) came to me and told
me that he purposely gave me wrong information (post sales), this is the marketing strategy, if I tell u everything
nobody is going to buy out policy and since your free look period is gone nothing could be done.he told me that I have
no option except to continue with this policy .
Please help
.
Sincerely looking for your reply