[Resolved] Max Life Insurance — Surrender Charges on policy no[protected]

Sharma Sanjai

from Panaji, Goa

Address:

Maharashtra

Dear Sir,

Max New York Life Insurance have witheld an amount of Rs 15162-/ from my total due amt of Rs 60645-/ and remitted the balance amount of Rs 45483-/ .

1.The amount promised at the time of submission of the policy was 60645 it is duly supported by the document issued by Max New York Life Insurance.
2.The policy has been duly submitted after the lock in period of 3 yrs on the promise of return Rs 60645 .
3.Seeking immediate reversal of the miscalculated charges imposed on the above mentioned policy asap.

Regards
Sanjai Sharma
[protected]
F301 Goodwill Garden CHS
Sector 8,PL 15/16
Kharghar
410210
Navi Mumbai

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Aug 13, 2020

Complaint marked as Resolved

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Comments

Max Life Insurance Customer Care

from Delhi, Delhi

Verified Support

Dear Sir,

We would like to clarify that as per the product features of Life Maker Premium Unit Linked Plan, a policy surrendered during the 4th year is liable to a 25% surrender charge.

We have deducted the same from your policy value and the balance of Rs 45, 483 has been sent to you towards full and final settlement.

Thank you
Support Team
Max New York Life Insurance