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[Resolved]  Kotak Super Advantage — Deprived of one installment at surrender

To,
Plan: Kotak Super Advantage
Policy No:[protected]Client ID[protected]
Plan Description – Unit-Linked Endowment Assurance Plan
Policy Start Date – 06/01/2010
Installment Paid -4
Dear Sir,

I have paid 4 installments of Rs.20,000/- Last installment paid on Policy Deposit Receipt no.71601190 dt.08/01/2013.
My total investment of Rs.20,000/- for 4 years is 80,000/-
Since I have surrender my policy, I have been credited Rs.53788.64.

I have lost Rs.20,000/- + 6211/-
Agents has not updated us on this condition.

I received communication from Kotak that :-
1) Fixed Advantage: The fixed advantage benefit is an assured value guaranteed at the end of your 15 years policy term. This benefit is calculated as a percentage of your 1st year premium depending on the policy term chosen, provided your policy is in force and all premiums are paid.

This particular clause is not shown in Surrender Heading column and also not briefed by Agent. It is printed elsewhere probably to misguide people.

I request for my hard earned money of Rs.20,000/- back.
Regards
Lourdes Rodrigues
Tel[protected]
Complaint marked as Resolved 2020-08-14 04:14:25
Complaint comments  6 CommentsShare0Tweet0

Comments

kotak super advantage — policy bond

sir,
I HAD TAKEN A POLICY NAME AS ABOVE POLICY BOND RECD ON APPROX. 5-6-2010.AFTER THAT
REFER MY COPMLAINT NO 2110854
BUT TILL DATE MY POLICY BONT NOT RECD BACK.
MY POLICY BOND RETURN URGENTLY.

MOST URGENT
Dear Lourdes,

Think Green, an initiative by Kotak Life Insurance urges you to save paper and help save our environment. Please switch to e-statement instead of physical statement and do your bit for the environment. SMS ‘CHANGE’ to 5676788 from your mobile number registered with us OR just write back to us saying “I would like to receive all communication through electronic mode (email)”

On receipt of your request, we will henceforth send all communication to your registered Email ID and ensure that you stay updated on your policy through a quick, convenient and green mode.

Thanks,
Kotak Support
Please send all communication to my registered Email ID. lourdes.[protected]@dabur.com.

I would request you first shown concern to my money and return my first installment.
Think Green.
Lourdes
To,
Plan: Kotak Super Advantage
Policy No:[protected]Client ID[protected]
Policy Start Date – 06/01/2010
Installment Paid -4
Dear Sir,

I have paid 4 installments of Rs.20, 000/- Last installment paid on Policy Deposit Receipt no.71601190 dt.08/01/2013.
My total investment of Rs.20, 000/- for 4 years is 80, 000/-
Since I have surrender my policy, I have been credited Rs.53788.64.

I have lost Rs.20, 000/- + 6211/-
Agents has not updated us on this condition.
Pls confirm whether First Installment will be refunded or not or else I will resort for legal proceedings.
Regards
Lourdes.
To,
Plan: Kotak Super Advantage
Policy No:[protected]Client ID[protected]
Plan Description – Unit-Linked Endowment Assurance Plan
Policy Start Date – 06/01/2010
Installment Paid -4

Dear Sir,

I have paid 4 installments of Rs.20, 000/- Last installment paid on Policy Deposit Receipt no.71601190 dt.08/01/2013.

My total investment of Rs.20, 000/- for 4 years is 80, 000/-
Since I have surrender my policy, I have been credited Rs.53788.64.

I have been cheated of one installment of Rs.20, 000/- & 6211/- their surrender charges.

In Surrender Heading, there is no mention of holding any installment.

I request for refund of Rs.20, 000/-.

Regards
Lourdes Rodrigues
Tel[protected]

Send Statement of account

Please send me statement of account and all the details of Policy Number 01166777 and 01166829, Clint Id 51765328 Policy Holder- Shyamsunder Prasad, till date...

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