Max Life Insurance — Low Surrender value of policy

nazir.sumara

Address:

Rajkot, Gujarat

I am holding their policy no.[protected]. I am paying my premium from last 5 years . I had decided to surrender this policy due to monetary constraints. Their customer care executive is replying that I will only get 30% of the total premiums paid. Is there any legal action possible against this company for fraud. There should be zero star rating for such companies.

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Comments

Max Life Insurance Customer Care

from Delhi, Delhi

Verified Support

Dear customer,

Greetings from Max life Insurance.

Life insurance is a long term savings and protection tool for achieving life stage based goals. Evaluating its performance over a short period may not be appropriate. One should wait till the entire term of the policy and then evaluate its effectiveness.

Regards
Max Life Insurance

nazir.sumara

When I brought this policy it was max new york and now it is max life. I am not sure what it would be after next five years. Other Insurers like ICICI and Bharti AXA are quite flexible in surrender terms. And You guys are telling me even after five years (and upto 15 years). i will just get 30% of value what I paid. Is it a joke or just cheating. 5 years can be sort term only for you guys.