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I am also in the same situation. I had surrendered the poilicy on 26-apr-2010 and till today the amount it not transferred. When enquired about this they say that there was a mistake on their part, instead of NEFT they sent me a cheque. They sent a cheque to my old address without even verifying with me. Now when i ask them to cancel the cheque and do NEFT instead they say it will take another 3 days!! I dont know if we can trust these people. I am just waiting for 3 more days and if the money is not coming by that will file a case in the consumer court.
Max New York Life Insurance Company — 27 days Delay in dispatching the surrender amount
I have submitted surrender of my policy (Policy Number[protected] on 17th April 2010 but as per max it should have taken 15 to 20 days to credit the surrender amount to my account. but till 11th May 2010 Max had not credited the amount.I have to go to Max office and fight lot with Max officers then they have credited the amount on 11th May 2010.
My humbe question to Max is Why I had to fight to get my money back ??