Comments
You were unfortunatey a victim of mis-selling by Kotak. You should have gone through the policy documents clearly. Unfortunately you believed what the agent told you and got fleeced. Call up the IRDA helpline and inform them of the issue. Before that give a final try with customer care of Kotak Life and inform them that you would be complaining to IRDA. With so much negative publicity, Kotak might just refund you the amount. IRDa helpline: 155255
Reply
I fully agree that Kotak is push selling the policy without informing the customer of its full and transparent implication. I want that wide publicity should be given to such fraudulent sale of policy and IRDA should take strong acction against Kotak and force them to refund the first year premium paid without any deduction.They should also pay for damages . I am suffering similarly and will provide details readily.
Even I fully 100% agree that Kotak life insurance is full of all cheats and crooks agents and staff. They tell lies left-right and center,
And Even we were victims of falsely selling the policy, as we were informed and verbally promised by the KLI kotak insurance Managers, branch mangers alongwith agents that I need to invest in this for the first 3 years only,
They told me that you have to pay the premium for the 3 years only and there will be no deduction of the charges and all you will receive your money after 3 years according to the fund value. on the basis of the same I purchased the insurance and paid the first half yearly installment of 10000.
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. I want that wide publicity should be given to such fraudulent sale of policy and IRDA should take strong acction against Kotak and force them to refund the first year premium paid without any deduction.They should also pay for damages .
I have already intiated a legal case i.e sued KLI in consumer forum, and complained to IRDA helpline: 155255, AND we are waiting for the right judgement and let the righteous and honesty prevail, and justice delayed is justice denied.
And Even we were victims of falsely selling the policy, as we were informed and verbally promised by the KLI kotak insurance Managers, branch mangers alongwith agents that I need to invest in this for the first 3 years only,
They told me that you have to pay the premium for the 3 years only and there will be no deduction of the charges and all you will receive your money after 3 years according to the fund value. on the basis of the same I purchased the insurance and paid the first half yearly installment of 10000.
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. I want that wide publicity should be given to such fraudulent sale of policy and IRDA should take strong acction against Kotak and force them to refund the first year premium paid without any deduction.They should also pay for damages .
I have already intiated a legal case i.e sued KLI in consumer forum, and complained to IRDA helpline: 155255, AND we are waiting for the right judgement and let the righteous and honesty prevail, and justice delayed is justice denied.
I have been cheated by Kotak Insurance agent. Policy details was not correctly told to me. In the first years iteself these bloody cheaters alocated whole money as Premium charges. They should be sued in court. They have to return money to all the consumers whom they cheated.
My Policy Details-
Name of the Plan :- Kotak Unit linked endowment assurance plan
Insurance co :- Kotak Life insurance
Client Id :[protected]
Policy no :[protected]
Date :- 04/06/2010
Name of Policy Holder :- Mohd Ikram
Premium Amount :- 30000/-
My Policy Details-
Name of the Plan :- Kotak Unit linked endowment assurance plan
Insurance co :- Kotak Life insurance
Client Id :[protected]
Policy no :[protected]
Date :- 04/06/2010
Name of Policy Holder :- Mohd Ikram
Premium Amount :- 30000/-
i also face the same problem and want to know more details about what to do next because i already paid three installment of rs. 10000/- each. name dhananjay badekar-pune
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