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[Resolved]  Metlife Insurance & Axis Bank — Misguided by Axis Bank Bank official along with Metlife official

This is my complain mail to Axis Bank, Metlife Insurance, IRDA, and RBI, But no result. I am giving this on this forum with lots of hope. Thanks.

Dear All,

This is my strong complain against MetLife as well as Axis Bank.

Point are Below,

1. I am senior Citizen person account holder of axis bank Koch behar branch.
2. I was walking to axis bank for invest in bank fixed deposit.
3. One of Mr. Tamal axis bank employee try to convince me for invests in MetLife instead of Bank FD.
4. Mr. Tamal introduce me with Mr. Amit Kar, MetLife Employee.
5. Mr. Amit Kar explain me his MetLife plan as: Its a three years plan, I have to pay a premium for three years, I Can withdraw
my money after three years, I will get a return of 15% compounded interest for three years on my investment.
6. As per this conversation with Mr. Amit Kar and Mr. Tamal I convince and I invest Rs. 30000 on it.
7. But suddenly when I go through the trams & condition of the policy I come to know that there is no as such 15% interest is
written on the policy deed and if I withdraw my money after three years then I have to pay a charge of 70% of my first year
basic premium which I was not informed by neither Mr. Amit Kar neither Mr. Tamal. And one more thing that I am a retired
government. Employee. But in the MetLife application it’s written as businessman.

I have send a complain mail to Axis bank as well as MetLife but I haven’t get any response from axis bank, and MetLife give me a useless response which means they can easily play with my hard and soul money. And in between some one call me from MetLife Siliguri branch and try to convince me to withdraw this complain and continue this plan.

After this bad experience I completely fed up with both the company because it’s a clear case of cheating. So I have sent these complain mail to you as a higher authority with lots of expectations and I am praying for justice and necessary action against the guilty. I further request you to help me to get my money back as soon as possible.

For Your Information:

My Axis Bank Account No: [protected]
MetLife Policy No:[protected]

Thanks in advance with lots of Hope.

Regards,

Ananda Kumar Paul
Coochbehar
[protected]
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  6 CommentsShareTweet

Comments

I strongly agree with this complaint. Axis bank & Metlife are cheating people by giving false commitments. Even my father suffered the same thing by the hands of the Axis bank Manager and Metlife Employee by taking up Meteasy policy on their recommendation. Now he finds that everthing that was informed while taking up the policy was false. Even we have lost 1/3 rd of the money.
I am Mr Prabir Kumar Banerjee of Jalpaiguri, Babupara. I'm also cheated by Axis Bank & Metlife. Type of commitment and type of cheating are same to same.I have no word to hate them.
I Laxmikanta Pradhan of Bhubaneswar 100% agree with you, as they keep on giving false commitment year after another, even after 5 years I lost more than 1.5 lacs because of this .I suggest not to believe such type of organization and their couterpat bussiness people .Both are equally responsible Axis Bank & Metlife.
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I am a Swami of Sivananda Ashram in Rishikesh. Axis bank officer from Rishikesh branch pressured me to take MetLife, saying it was not insurance policy but investment and i would get good dividend after 6 years. I clearly stated i did not want any insurance as being a Swami i have not dependents, wife, children, etc. The officer, Kavita, said it's not insurance but investment. I trusted her. She said the papers were taking time to draw up, so i couldn't yet see everything. Finally, thinking the bank would want it's customers to prosper, i trusted and signed. Now they taken out two amounts of rs. 49, 000, and i cannot cancel the policy until third payment of rs. 49, 000. Then i only get half of that total, rs. 74, 000. I never wanted any insurance. The beneficiary on the policy is my own Ashram, and i am the only one living there. Axis Bank and MetLife are doing big fraud together. Swami Bodhichitananda, Rishikesh

I am total agreed.
Axis Bank and Met Life are doing big fraud together.
also agree with all of you. I am also a senior citizen.Through Axis Bank, I paid 78000 @26000 per year for three years from Jan 2009 to jan 2011 and my fund value is still 56000, mean, net loss of 22000 against market going more that double. when contacted for surrender, they asked 40% surrender charges of the fund value. Though I have complained PMO but no hope as there Met Life Reperesentative called about complaint and told me to go through T&C. For your information, they are now, Pnbmetlife

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