[Resolved]  Kotak Mahindra Old Mutual Life Insurance Ltd, - Kotak Smart Advantage Plan — MISCONDUCT OF HIGH OFFICIALS

Kotak Mahindra Old Mutual Life Insurance Ltd. — Misguided by sales person and changes policy no

Dear Sir,

I have taken one Policy bearing No-0014973 from Kotak . I deposite my premium in time for a period of 3years 6month. On off sudden I got a sales call from one of the sales representive of Kotak Mahindra Old Mutual Life Insurance that my policy will continue with better return and without deducting any charges. For this I have to continue this policy for upto a period of 6year . Since I already complited 3 and half year, so I have to pay only premium of 2 and half year. For this intilly I have to pay 1year premium at a time. I was agree and I got the policy bearing different no . I have not read the policy . But when I got a letter from Kotak Mahinder i.e I am unable to paid the premium against my policy no-0014973, I was shoked then immeditely I wrote email etc. They are now playing with me and with my money.

Sir, Please look this seriously, for which I will be greateful to you and every consumer in future also get more help from you.

Thanks

Sanatan Pradhan
Mob-[protected]

sir,
i m a life advisor in kotak mahindra life insurance bank in bharuch branch and my sm(hetal solanki) cheated with me. she didn't give my license back and when i asking for license so she trying to make me fool she told me that my license come my home by post but after 2 months my license not come at my home. when i know about the procedure of license by another person and i call her so she misbehave with me and did't reply and talk with me in bad language and when i told to branch manager so he told me then he gives my license back from my sm's home but i disagree with my sm because she talk with me in bad language about my family so i terminate my license and i complaint to branch manager but he told me that he cannot take any action and neglate me so please help..
i hope that u can take strict action for this issue..

client id

Kotak Mahindra Old Mutual Fund Life Insurance Ltd. — Payment of premium

I am in receipt of your letter dated 1.12.2010 of Kotak Life Insurance conveying therein that
Policy No.[protected]Cl.ID No.188536) in the name of Sakshi Sharma has
lapsed due to late receipt of the premium. It is alleged that policy
was in lapse mode for more than six months and can be revived only
after completion of certain formalities.

I may apprise you that the due date of payment of premium was
February, 2010, as admitted by you also in the aforesaid letter, then
how the policy can remain in lapse mode for more than six months when
you are in receipt of premium on 3.5.2010. If the premium would have
not been paid upto August, 2010, then your version might be right.
Moreover, the instant communication shows that how much concerned you
are with the people associated with you. You are in receipt of the
premium in May, 2010 but now after a lapse of 8 months, you have
gathered that there are some technical problems. If you are rendering
such type of facilities to your customers, then it would be better for
me to look forward to another company who can take care of the
benefits of the customers in a better way.

R.K.Sharma

Dear Mr. Sharma,

At the outset, please accept our apologies for this aberration in our service standards.

With reference to your Policy# 00117230 we would like to confirm that the renewal premium payable is Rs.19434/- and we have received Rs.19301/-. With reference to your conversation with our Customer care team we will ensure reinstatement post payment of the balance amount.

We thank you for your cooperation in resolution of the same.

We would request you to write to [protected]@kotak.com or contact us on[protected] for further assistance.

Regards, Kotak Support Team

Thanks for taking care. Not Hoping but making sure that the Company will take care of interest of it's customers in future.

with regards

Kotak Mahindra Bank / Life Insurance — Never took serious of my complaint or request.

I am Nima Dorji working in one of the BPO industry in Noida and I have Salary Account with Kotak Mahindra Bank. The person who is know by Ashish came to our company and he opened Life Insurance policy without my authorization and I have requested them to cancel my the Policy (Policy number: 2062224) so many times but they never took my request seriously. I have been referred back and forth, written mails many times, met with Bank Managers, submitted written application along with cancellation check several times and they promised me that they will cancel it but now it's almost been six month and still cancellation is never done. They keep putting penalties for not maintaining premium amount to be deducted from my Salary account. If you need any Corresponded mails to prove that I have contacted them requesting for cancellation then please let me know in my email id: [protected]@yahoo.com

Looking for the assistance for aggravated Customer of that bank and this would be my ultimate hope to resolve my issue.

Dear Ms Dorji,

This is with reference to your conversation with our customer care officer: we would like to hereby inform you that we have taken up the matter with the pertinent head to ensure that no such incident occurs in the future.

We will coordinate with you through our KLI grievance email and ensure resolution on priority. For further queries, please feel free to write to us at kli.[protected]@kotak.com or contact our Client Service Desk on[protected]Toll Free).

Regards, Kotak Support Team

FRAUD[protected]--------KOTAK SMART ADVANTAGE PLAN[protected]------FRAUD

UIN Number: UIN-107L043V01
Policy Number: 01499898
Premium: 50, 000 (Yearly)

Some agent duped me into buying this policy(KOTAK SMART ADVANTAGE PLAN) of KOTAK in 2009.

I was told locking period of 3 years after that if i wish i can continue else withdraw my money easily without any charges. Also was told many benefits also that will get loyalty bonus every five years and blah blah.

But when i payed my subsequent premiums. I saw my 1st premium is not in my fund value. This was never told to me that first premium is not invested.

When i called up the customer care and asked about quitting the policy they said, first premium wont be payed back also further forfeit charges will be deducted from current fund value. This is shocking even after 3 years which was supposed to be locking period nothing changed and i am duped.

They say you have to pay premium for 20 years without fail then only your first 50, 000 will be payed along with else.

As per 25-Nov-2012 My policy status

Amount Payed By me: 2 Lakhs( 50K X 4)
Fund Value: 161919.59400

I guess i would never match to original amount. I cant forfeit that will take half of my money.

So this comes out to be total trick fraud to keep a person paying. He can never quit from this loop hole.
I have seen Many people being part of this fraud by KOTAK. Many have forfeit their policy and KOTAK snatched their almost 50% of the money.

MY HUMBLE REQUEST TO EVERYONE ...PLEASE DO NOT GO FOR ANY POLICY OF KOTAK...THIS KOTAK IS MOST FRADULENT OF ALL..I haven't seen any such case with any other bank.

I have written my complaint to them 2-3 times on their website. Never ever got a single reply. Even after few days my request/complaint automatically gets deleted.

All i want is either Kotak should contribute my first installement in my fund value and add the interest equivalent to what i should get in 4 years at NAV price of the fund i will continue with my policy for sure on these terms... Or ELSE allow me to forfeit the policy and give my 2 lakhs back . I don't want any interest just please return my original amount atleast .