[Resolved]  Max Life Insurance — cheating by max newyork life

I am a senior citizen of 67 yrs. & a retired lady. I have been cheated by New York life insurance, due to this I am in a state of shock & mentally disturbed.

I was approached by new York life insurance through their agent Mr. Bhanudutt lala & manager Mr. Mehul dave for their “SMART STEPS PLUS” policy for my grandson aged 7 years.

They convinced me that this policy is the best policy known as “THE BEST GIFT A PERSON CAN GIVE TO THEIR GRAND CHILDRENS” & it’s possible at an age of 67 years & hence I agreed & paid them a premium of 20000/- with tenure of 20 years through 2 cheques, first cheque of Rs.5000/- bearing no. 655756 DT. 28.02.09 o[censored]nion bank shahad branch from my account no.32431 & another cheque Of Rs.15000/- bearing no 040484 from my HDFC BANK Ulhasnagar branch account no[protected] for policy in my name (for which I provided my pan card & ration card) with nominee as my grandson (for which I provided his birth certificate) & my grandson being a minor my son was supposed to be his guardian (for which I provided his passport).

After paying premium & confirming that both cheques have passed through my banks I asked them for my payment receipt as I had to claim 80cc benefit & for my policy but I only received excuses from them in return.

After several verbal request which were not been entertained by them, I complained on their helpdesk at service.[protected]@newyorklife.com on 26th June 2009 & asked for my policy which I received on 10th July 2009.

To my surprise the policy no.[protected] which I received was totally manipulated. The details are hereunder:-

THE SIGN MADE ON APPLICATION FORMS IN THE NAME OF INDRAJIT SINGH ARE NOT OF MY SON INDERJEET SINGH AS HE HAD NEVER SIGNED ANY DOCUMENT

1) The payment made & policy promised by your manager Mr.Mehul Dave. & agent Mr. Lala was in my name I.e. SATWANT KAUR OCHANI not INDRAJIT SINGH OCHANI as mentioned in you policy.

2) Nominee was my daughter-in-law Mrs. SUKHBEER KAUR OCHAN in place of my grandson Mr. SUHEET SINGH OCHANI as promised. Being a child plan how can my daughter-in-law aged 33 years be nominee in place of my grand son SUCHEET SINGH OCHANI aged 7 years? His name doesn’t’ appear anywhere in policy. How can a wife or daughter-in law be nominee in a child plan?

3) Payment mode is quarterly of Rs.5000/- instead of yearly for Rs.20000/- .

4) I was never told about surrender charges or other charges like premium allocation charges, fund management charges, e.t.c in fact I was told that I can surrender it after 3 years which is locking period without any charges.

THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

I highlighted this through my e-mail to them on 13th July 2009 & since then they have being pressuring me to give an application for cancellation of this policy & apply for a new one.

On 2nd August 2009 there representatives namely Mr.Jagdish Golani, Mr. Kumar Vishal & Mr. Rajesh Trivedi visited my premises & I showed them the following under mentioned details & was promised by them that they will resolve the matter with 4 to 5 days. I have a copy of minutes of meeting with them.



1) In their proposal form the nature of proof mentioned is passport whereas the name mentioned in passport is INDERJEET SINGH OCHANI not INDRAJIT SINGH OCHANI.

2) My son has problem of high blood pressure & dibates & his blood test are regular due to this since last 6 years this is not mentioned in proposal form.

3) My son has a pan card bearing no. AAIPO0686J since last 5 years whereas they have mentioned applied for in proposal form & income shown is Rs.200000/-. Is it possible a person having income of Rs.200000/- & without pan card.

4) He had gone to dubai 2 years ago & last year has been to Bangkok & is fond of adventure sports like scuba diving , para glinding , e.t.c this also is not mentioned in proposal form

5) Nominee mentioned is SUKHBEER KAUR OCHANI according to your proposal form & as per your form it is necessary to attach a valid proof of DOB. Where is the valid proof of DOB? Even here date of birth is not mentioned. Actually the nominee supposed to be was my grandson SUCHEET SINGH OCHANI & his guardian my son INDERJEET SINGH OCHANI hence I had provided them with BIRTH CERTIFICATE of my grandson along with PASSPORT copy of my son.

6) We have number of policy of L.I.C. in the name of son, daughter-in-law, & grand children’s where as you they have mentioned INSURANCE COVER TAKEN ON FAMILY AS NIL.

7) And interestingly who is the witness of this policy your AGENT Mr. LALA HIMSELF.

8) THE SIGN IN THE NAME OF INDRAJIT OCHANI & WRITING OF DATE & NAME IS NOT OF MY SON. THIS IS FABRICATED BY THEIR AGENT MY LALA WHICH IS ACEEPTED BY NEW YORK LIFE INSURANCE & HENCE THEY HAVE TERMINATED HIM.

Actually he himself has filled the proposal form & hence he was not aware of these details & hence they are not mentioned in proposal form.

On 10th August 2009, I received a mail from their representative Mrs. Ritu Yadav & she told that this policy is for 21-50 years old & hence I am not eligible for this plan hence I should cancel it & though my son is a diabetic person they asked to give a fresh proposal form in this regard & promised to issue a policy to him.

I refused the same via my e-mail on 2nd Sep 2009 & thereafter I received a call on my cell no [protected] from tel. no. [protected] on 2nd Sep 2009 from Mrs. Ritu Yadav at 17.29 p.m & was told the same thing. I asked here if the policy was not for me why they took money from me & I have already claimed the 80cc benefit for this policy with income tax for my income tax return of 2008-09.

I am having financial loss too the nav of this plan on growth balance fund was Rs.19=05 on the day I paid cheque & today its Rs.27=43. The value of per unit has been appreciated by Rs.8=38 as I am a retired person & pension & interest is the only source of my income & moreover the physical & mental trauma I have went through since last 9 months.

I simply I asked her to either issue me policy as was promised to me or I seek a compensation of Rs.10, 00, 000/- or I will approach consumer court, insurance ombudsman & IrDA in this regard.

I was told to approach wherever I want to & neither they will issue me policy nor compensate me. Hence I request your honor to look into this matter & help a senior citizen to get justice.


SATWANT KAUR OCHANI
[protected] / [protected]