Max Life Insurance Complaints & Reviews

Dear Consumer Complaints Forum,

I was persuaded to invest in a policy of Max Life Insurance Company when I visited Axis bank regarding my savings account. I paid Rs.46,000/- on 17 November 2012 towards the plan. Till today they did not issue the policy documents or even the payment receipt to me. I have been calling and mailing to them and every time I receive a new false promise. When I got fed up with their behavior and asked for cancellation of the policy nobody responds. Even their service manager and grievance redressal officer don't care to respond to the mails, leave alone taking the ownership to resolve the issue. This is the worst service I ever received from any organisation.

I would really appreciate if someone can help me in getting my money back and also penalize Max Life Insurance Company for troubling me so much.

I am reachable on my mobile number [protected] for any further details in this regard.

Looking forward to some help. Thanks in advance.

Best Regards
V. Sharma

I am very much happy to being existing customer of Max Life Insurance (Policy Number :[protected]. But some of personal urgent financial requirement I am planning to withdraw my policy. While submitting withdrawal application the concerned person is raising the issue of "SIGNATURE MISMATCH". I also agree that, my signature is looks little bit different than in the application form( which I signed 5 years ago). For my eyes the signature will looks around 60 to 70% same. But your people rejecting my withdrawal application. Please update me with any solution for this issue.

what is my policy surrender value

Hello,
I am unable to login to the customer portal of max insurance site for last 1.5 years
i have a valid user id and password but every time i click on submit i get an error
"Response.Textlength is null or not an object".10300998
I have mail the service.[protected]@maxlifeinsurance.com number of times but did not any satsifactory reply.
the just send standard reply with steps on how to register
i think they are not even reading the mails
Complaint no: 10300998
employee name Karuna Tewari
please provide any help.
Chetan
[protected]

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.

DEAR SIR I AM AGENT OF MAX NEW YORK LIFE INSURANCE COMPNY LIMTED THAT IS NOW MAX LIFE INSURANCE COMPNY.MY AGENT CODE IS 401264. I HAVE NOT RECIEVED MY TAX REFUND CHEQE YET .TIME PERIOD IS FROM[protected] TO[protected].MY ASSGSMENT YEAR 2011-12 .AND PAN CARD NO-DARPS9394K. CHALLAN SERIAL NUMBER IS-49345. I HAVE COPY OF FORM NO-16 A.BUT IN .JPG NOT IN PDF SO I CANNOT SEND U THAT COPY.I HAVE NOT RECIEVE MY TAX REFUND CHEQE YET.PLS HELP US . ISHANT SINGLA

I signed up for a new insurance policy with Max Life Insurance in Dec 2009 and paid premium for first year. In 2010 Dec, I missed the payment and made the payment in Jan 2011 (Please find my bank statement attached below that shows proof of payment) and also the payment history page screenshot from Max Life Insurance website as well. In 2011 I didn't pay the premium. Now when I contacted then to revive the policy, the firm says I was due 3 years of premium and they never received the premium I paid in Jan 2011 towards year 2010.

After I sent them the screenshot from their website showing the payment history, they tampered my records and removed dates from payment history. Still payment history was shown and there was an online payment made for Rs 16467.88 but date was removed from payment records. I captured both the screenshots, before and after the complaint, and have them in my records. They even sent me a statement of premium payments without the latest payment which is clearly shown under my account in their website.

If they didn't really receive the payment, why my account data in their website is tampered???

Hi i am having max life insurance policy which plan contain Max life secure dreams plan where i am paying Rs.15000 P.A. which is for 10 years i has taken this policy in the year 2009 where checked my statment in just now 2012 which is reflcting half of my premium amount is getting paid in the administrative charge which , i had never seen in any of the insurance compnay is charging such huge amount of admin charges also i paid around 4 premium which is 15000*4=60000 if i want to with surrnder my policy there is a different term they will pay you 70% of your NAV also there is a tregedy NAX is always less then the your principal value , so there is no use by investing in such a bleedy blaster policy they are full filling agent pocket by fooling the custoer if i will invest for 10 years 15000*10= 150000 which is equal amount of 150000 and i will get after money 10 years based on NAV which is always less then the principle then what is the use by investing in such policy , i become fool by investing in this and now i am surrendering my policy but i advice other people not to invest which this company where you will not get even your principal so Pl. be secure

I will be retiring in the next 5 years. I called Max Life to enquire about their retirement plans but the representative was not very helpful. I would like to learn plans from Kotak or Bajaj. Feel free to call me at [protected].

Hi,

I wanted to know the status of the policy .
I want to know the amount which is there in the policy now.
If i submit the policy details how much money i will get in hand .
Expecting for your answer. Please do the needful ASAP.

Client Id:[protected]
E-mail Id : rajalakshmi.[protected]@wipro.com
Policy holder name: Kamatchi T

Regards
Rajalakshmi T

This is regarding policy #[protected] belongs to me shubhra bhargava.
Registered email ID- bhargava.[protected]@gmail.Com

1. Policy surrendered on 21st september 2012. Max life insurance promised to get the amount rs. 70000/- Transferred to my account in 15 working days.
2. As it DID not happen and moreover at customer care no-one had any clue why and what is wrong, I launched a complain to them on 13th october 2012. Complain # 9797329, which should have been resolved in 10 days. But still it DID not happen!!!! and customer care has no clue what and where is the problem!!!
3. 70,000 rs, at stake, please can someone let me know why there is such a delay? or max life insurance is the most dis-organised company of the world??
4. Today 40 days complete!!!!1
5. I need interest on each and every day as it is passing by as I am facing loss of same.

Thanks

I have complaint against Max Newyork Life Insurance Co. Ltd.

EMPLOYEE CODE: RAJ0385

I am Vishal D. Joshi working as an Agency Development Manager at Rajkot Branch.

I resigned on 23-MAY-2012 with 15 days notice Period Hence Last date to serve notice period was 6th June 2012. My Resignation Accepted on 31-MAY-2012 and From 1st June the attendance system called CafeHR, My id was blocked. I have tried several time to connect but due to acceptance of Resignation of 31st May all the links and ID related to me was closed. Hence I have not served last 6 days due to closure of cafe HR. and they have deducted Rs. 6164.38 From my May Month salary it was not my fault.

Thanks and Regards
Vishal Joshi

I took Max Life Insurance Policy in June 2009 and locking period of 3 years completed in 2012. I paid all premiums during my policy. My policy name is Unit Smart Assurance where locking period is only for 3 years.
Despite it is written in many places in the Rule booklet provided by Max Life insurance company that Policy will be terminated only when Fund Value is less than single ATP they have terminated policy with the false statement that Fund Value minus Surrender Charges should not be less than single ATP.

My ATP (Annual Target Premium) is Rs 20,000 and Fund Value at the time policy terminated was 31,300.
After deducting surrender charges they are giving cheque of 20,935 which is even more than single ATP of 20,000 amount.

I called Max Life Insurance Customer Care many times, they always say we are arranging call from our end and you will get a call by tomorrow 11 AM for clarification.
It happened 5-6 times and I am not getting any calls from them after long time also because they know they have done mistake so nobody in Max Life is even bothering to Activate policy which they terminated wrongly.

Max Life is worst ever Insurance company and there executive doesnot know the rules of policies. Even I mailed them many a times on there service.helpdesk email but didnt get any reponse even after 3 months.

Please resolve my problem immidiately and Max Life company should pay compensation for the losses happened to me.
My Policy Number is[protected] and email id is aftab.[protected]@gmail.com

THanks
Aftab

Dear Friends, Never ever buy any life insurance or health insurance policy from Max Insurance Company (Earlier known as Max New York Life Insurance).. They are absolute cheaters and they are here to nibble away your money... I purchased a policy from them and paid premium for 22 months... They never provided me premium receipts on their own.... The ECS instructions were changed by them as they are
fraudulent company... Then they later issued me another policy with a different number... My first 3 premiums were thrown out of records.... Later, the worst came that they changed my name on their own, in the system without any intimation to me or without any request from me.... They did this just in case to avoid any claim if comes to them... The list is endless. Please spread this word to everybody in your circle so that nobody loses his/her precious money to these cheats.... I have written to them almost 40 times to return the money paid by me but they have not returned a single penny...Moreover the policy has been lapsed now....They are here to trouble people....

I joint a policy to MaxNewyork Life on 18th Nov.2011, No. o[censored]nits allocated to me was 4500, now on 28th Sept.2012 it has reduced to 41968 only. A complain lodged and Company reply un-satisfactorily, saying monthly administrative charges,mortality charges etc...by doing so my fund value is reducing instead of gaining.
Now I plan to surrender the policy, that also no use because of 5 yrs.locking periods,means money will get back after 5 yrs.latter.

It is your kind information that, never join any ULIP insurance policy in future, the company trapped us from all angles after joining, though they buttered us like servants before joining any policy.

sir

my policy no. is[protected] in r/o Avanindra Pal Singh but premium receipt not received neither my home address nor my office address till date so that i requested that intimate current status of my policy and monthly receipt of policy may please sent my home address vill & post-Golabazar, district-Mainpuri(U.P) Pin code-205001 and also intimate how can know our policy status through website.

Dear sir,
I, Tripura sundari devi, whole life poloicy hoder in Max Life. My
policy number is[protected]. I paid my premium due for the year of
2012, August. I received confirmation receipt also. But I received a
letter frm you that, which my policy is lapsed and suggested me to pay
Rs.200.48. I cant understand why ur people frequently called me abt
premium payment even I paid, still I received letters from you to pay
balance. What is wrong with me you. Plz letme know my policy status.

Yours faithfully,
Tripura sundari devi
Mobile: [protected],

I am a customer of Max Life Insurance previously known as Max New York Life Insurance,

The incident is dated 08th Sept 2012. I went to a branch office at Max Life Insurance, in area of Kothrud in Pune. I Surrendered all my documents with 5 signatures of mine, which were asked to be done by the branch officer to me.

I did those signatures and submitted all the required documents with my original policy document, to the branch office. The documents flew to the head office in Gurgaon where they took 6 days to just have a look at those documents.

On 20th Sept 2012 when i gave a call to Customer care of max life Insurance i found out from them that my request for POLICY SURRENDER has been denied in the system due to a SIGNATURE mismatch.

When i went through the poilcy document and various poilices of max life insurance it was no where mentioned that there should be a signature match while surrendering the policy.

The second thing i am worried is that i was not all informed that the request has been denied, vaya SMS or Mail, considering the fact that we are living in 2012 and expect the communication media to be fast.( Specifically considering that i recieve a message everyday saying that i should pay my policy premium),

This is an absolute miscommunication and hammering a customer's expectations of recieving money (of his own) not on time.

When enquired about a solution and the assurity regarding the payment against my policy if i submit the all the documents again, the customer support is totally in a zero state.

Request to take a immediate action against the same.
I was suppose to recive a handsome amount of 58000 Rs. from max life Insurance, which is now a question ( Unresolved).

A very Upset Customer.........

Abhay Jaju

Dear all
I have purchased the plan from MAX LIFE INSURANCE (Balance fund-PR-Driven –ULIF00225/0604LIFEBALANCE104) Dt. 2009 to 2012 I collect the units 3502 Dt 10.9.12 after that I found my unit is not 3502 some units is reduce from my account and I found my balance units is 1406 dt 18.9.12 Let see much deferent and I am enclosed the picture also and not my all fund in Balance some fund is growth I have write the letter Dt. 04.09.2012 to max and given to me a message in my mobile "Dear customer your request regarding redirection of funds policy[protected] has been accepted. Regards max life service" but not transfer my fund u can see in this attachment file both funds is there right now. I request to "max life insurance" please revert my all units we have 3502 unit in my accounts
Guys can I believe this company yes / no

Regards Pramod

Dear sir,
I, Tripura Sundari devi, whole life policy holder of Max life Insurence. I paid my annual premium on 25th August, 2012 at Axis Bank, Gajuwaka, Visakhapatnam. My policy number is[protected]. Still I didnt get premium receipt. But today I have received reminder from you, that I have to pay premium with penalty to survive my policy. Its unfortunate thing, even I paid premium. Please let me know my policy status.

Yours faithfull,
Tripura Sundari Devi,
Door No: 8-7-3(1),
Opp: Church, Neelkamal street,
Old Gajuwaka,
Visakhapatnam
Andhrapradesh,

My mobile No: [protected]
email: [protected]@gmail.com