[Resolved] Kotak Life Insurance — Complaint Against Kotak Life Insurance Company | |||
Complaint against Kotak Life Insurance Company Dear Sir, I had taken Kotak Smart Advantage Plan (Policy No. : 01514112 Name Mukesh Berwa) by seeing Brand Name of Kotak Group by investing monthly 1,500/- since December, 2008. 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, December 2008 when I purchased this policy. At the time of purchasing that policy (December, 2008), the sales executive 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 (1500 * 36 months=54,000 + Good % of return) (I have purchased this policy due to this feature only which is told by the executive, and I had paid 1,500/- per month since December ,2008 to December, 2011). And after 3 years, I had been called 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 6 or 7 % deduction also. They say you have to pay premium for 30 years without fail then only your first 18000 will be paid along with else. 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. : 01514112 Name Mukesh Berwa) 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 would now not like to continue with this insurance policy as there is total difference in what was committed to me at the time of selling the policy and what is being said now by Kotak life insurance help desk. I fully agree that Kotak Life insurance is Making false promises and selling the policy without informing the customer of its full and transparent implication. Please let me know what can be done on this. Thank you, Mukesh Berwa Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
3 Comments | |||
Comments
I AGREE WITH YOU. I HAVE ALSO FACED SAME PROBLEM I HAVE TAKEN SUPER ADVANTAGE RS.15000 AND AFTER LOCK IN PERIOD I HAVE PAID TOTAL 60000 BUT NOW IF I WAN TO WINTHDRAW I WILL GET ONLY 26000 LOSS OF 34000. WHAT IS THE USE TO SUCH POLICY THEY LITERALLY DECEIVE PEOPLE. I SUGGEST EVERYONE DONT TAKE SUCH POLICY IF WE ARE NOT GETTING OUR MONEY BACK.
kotak mahindra life insurence — harassment
I am varinder kaur w/o Maj Gurdeep Singh.I am residing at Ambala.Today evening i got a call from ur chandigarh office.Two o[censored]r office boys misbehaved saying that one of our cheque has not been cleared.They were using foul language.When i tried to call back on th same no, to ask abt the details of cheque, they said all sorts of nonsense things.My husband is posted abroad.The telephone no of that branch is[protected].How can ur so called prestigious company be so irresposible to give details of customers to such boys.You get our telephone and mobile no from i dont know where all and then put then in th hands of these notorious people.and then u so conveniently forget about it.I expect immediate action from your end.varinder kaur
W/O Maj Gurdeep Singh