[Resolved]  Lic From Max Newyork Life Insurance — Life Insurance Policy - fraud in terms & conditions

I am having a problem regarding my Life Insurance policy no.[protected] in Max New York Life Insurance. When the employee of the company came to me she said I have to pay the premium for three years only and after that the premium amount will be adjusted with the bonus of the product and I would have to pay nothing after that. But now four years has passed and till now I am paying the premium.

Now they say that I have to pay the premium till 11 years and if I miss any, the policy will be lapsed.

I asked to surrender the policy but they are refunding me a negligible amount as compared to what I have paid. I am helpless and compelled to continue with this fraud kind of policy.

I am a housewife and my husband is serving in I.O.C. we have no additional source of income, and when we see people like this we feel very disheartened. We feel there is everybody wants to cheat, we can not trust the words. This is beyond our paying capacity but we have to carry on with this.

I have nothing in written, there were many the promises but not on papers.